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Suppose you want to borrow $95,000 and you find a bank offering a 20-year loan with an APR of 5%. a. Find your regular
Suppose you want to borrow $95,000 and you find a bank offering a 20-year loan with an APR of 5%. a. Find your regular payments if you pay n = 1, 12, 26, 52 times a year. b. Compute the total payout for each of the loans in part (a). c. Compare the total payouts computed in part (b). a. The payment for n = 1 would be $ 7,623.05. The payment for n = 12 would be $ 626.96. The payment for n = 26 would be $ 289.18 The payment for n = 52 would be $144.55. (Do not round until the final answer. Then round to the nearest cent as needed.) b. For n = 1, the total amount paid is $ , for n = 12, the total amount paid is $[ and for n=52, the total amount paid is $ the total amount paid is $ (Round to the nearest dollar.) for n = 26,
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