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Question 18 (1 point) Sandy takes out a loan of $22,000 at 112 = 9%, repaid over 5 years with monthly payments. After 24 payments,

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Question 18 (1 point) Sandy takes out a loan of $22,000 at 112 = 9%, repaid over 5 years with monthly payments. After 24 payments, the outstanding balance on the loan is $14,361.35. Just after the 24th payment, Sandy makes a lump sum payment of $3000 and refinances the loan with monthly payments for two more years at the same interest rate. What is the new monthly payment? 350904 360 8

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