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please help me with these 2,5. Assume that you borrow $200,000 for five years at an interest rate of 7.9% per year. If the loan
please help me with these 2,5.
Assume that you borrow $200,000 for five years at an interest rate of 7.9% per year. If the loan has monthly payments, what is the amount of interest in the first payment? 1) $1,257.27 2) $1,316.67 3) $1,380.60 4) $1,057,00 5) $1,444.40 If the future value of an ordinary annuity that pays $700.00 each month for six years is $56,163.60, what is the annual interest rate? 1) 3.4% 2) 2.8% 3) 3.0% 4) 3.2% 5) 3.6% Step by Step Solution
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