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Joe negotiates a 10 year-loan which requires him to pay $800 per month for the first 4 years and $500 per month for the remaining
Joe negotiates a 10 year-loan which requires him to pay $800 per month for the first 4 years and $500 per month for the remaining years. The interest is 6%, convertible monthly, and the first payment is due in one month. Determine the amount of interest paid in the 50th payment. $141.90 $143.65 OB. $145.40 O C. $147.35 D. O A. E. $149.10 Joe negotiates a 10 year-loan which requires him to pay $800 per month for the first 4 years and $500 per month for the remaining years. The interest is 6%, convertible monthly, and the first payment is due in one month. Determine the amount of interest paid in the 50th payment. $141.90 $143.65 OB. $145.40 O C. $147.35 D. O A. E. $149.10
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