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Need help to reach this solution! Thanks! 9. A parcel of land, valued at $35G an, is sold for $151] um dam The buyer agrees
Need help to reach this solution! Thanks!
9. A parcel of land, valued at $35G an, is sold for $151] um dam The buyer agrees to pay the balance with interest at fl: = 9% by paying $51100 monthly as long as necessary. the rst payment due 2 years from now. a] Determine the number of full payments needed and the size of the cuncluding payment tune munth after the last $50130 payment. b] Determine the monthly payment needed to pay eff the balance by SE- equal payments, if the first payment is 1 year from new and interest is at f1: = 12%. Solution a] 53: $4?32.32 b} $3411.23 4]Step by Step Solution
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