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Red Lions Corporation takes out a $ 8 . 6 million short - term amortizing loan for nine months at 1 1 . 4 %

Red Lions Corporation takes out a $8.6 million short-term amortizing loan for nine months at 11.4% per annum. It makes monthly payments to pay off the loan. However, after completing 5 months of repayments, it decides to payoff early the remaining part of the loan amount.
Q1. How much are the monthly repayment (in millions of dollars)?
$ millions. (Give answer to 4 decimal places)
Q2. How much does it repay to payoff the remaining part of the loan (in millions of dollars)?
$ millions. (Give answer to 4 decimal places)
Red Lions Corporation takes out a $8.6 million short-term amortizing loan for nine months at 11.4% per annum. It makes monthly payments to pay off the loan. However, after completing 5 months of repayments, it decides to payoff early the remaining part of the loan amount.
Q1. How much are the monthly repayment (in millions of dollars)?
$ millions. (Give answer to 4 decimal places)
Q2. How much does it repay to payoff the remaining part of the loan (in millions of dollars)?
$ millions. (Give answer to 4 decimal places)
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