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left bank has a standing rate of 7.7% (apr) for all bank loans and requires monthly payments. what is the monthly payment if a loan
left bank has a standing rate of 7.7% (apr) for all bank loans and requires monthly payments. what is the monthly payment if a loan is for (a) $150,000 for 4 years, (b) $260,000 for 8 years, or (c) $1,000,000 for 23 years? what is the effective rate of each of these loans ?
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