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QUESTION 3 A bank is considering a new strategy to offer larger loans, providing more time between payments and delaying the first payment. In the
QUESTION 3 A bank is considering a new strategy to offer larger loans, providing more time between payments and delaying the first payment. In the analysis, it is being considered a loan could be acquired to be paid in 11 equal payments, separated by several months. The yearly interest rate will remain 6.17% compounded monthly in all options. So the bank is preparing a brochure to promote this new product depicting a case where the amount of the loan is $173,000, and the periods between payments is 3 months and the first payment occurring on the 14th month. What would the amount of the payments be for the bank customer
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