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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) $130,000 for 6 years, (b) $250,000 for 12 years, or (c) $150,000 for 27 years? what is the effective annual rate of each of these loans?
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