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Valeria gets a 200,000 25-year loan with an interest rate nominal 12 percent convertible monthly. Payments will be made monthly with the first payment made
Valeria gets a 200,000 25-year loan with an interest rate nominal 12 percent convertible monthly. Payments will be made monthly with the first payment made within a month after receiving the loan. Fifteen years after receiving the loan, your debt is restructures with a monthly convertible interest rate of 15 percent. The debt will keep the same date originally stipulated to be settled. Calculate the corresponding payments before and after the restructure
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