Previous Problem Problem List Next Problem (1 point) A company borrows $100000, which will be paid back to the tender in one payment at the end of 12 years. The company agrees to pay monthly interest payments at the nominal annual rate of 8% compounded monthly. At the same time the company sets up a sinking tund in order to repay the loan at the end of 12 years. The sinking fund pays interest at an annual nominal interest rate of 6% compounded monthly. Find the total amount of the monthly payments, that is, the sum of the interest payment and the sinking fund payment. Total monthly payments Preview My Answers Submit Answers You have attempted this problem 0 times