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The interest rate on a $100,000 loan is 7.5% compounded monthly. What must be the monthly payment for the loan to be repaid in: (Round
The interest rate on a $100,000 loan is 7.5% compounded monthly. What must be the monthly payment for the loan to be repaid in: (Round your final answers to 2 decimal places.) a. 5 years? PMT \$ b. 10 years? PMT \$ c. 15 years? PMT \$ d. 20 years? PMT \$ In each case, also calculate the total interest paid. (Note that a doubling of the term more than doubles the total interest paid over the life of the loan.) (Round your intermediate calculations and final answers to 2 decimal places.) a. Total interest \$ b. Total interest $ c. Total interest \$ d. Total interest $
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