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What monthly payment is required to pay off a $64,000 loan in seven years if the interest rate on the loan is 4.5% compounded: (Do
What monthly payment is required to pay off a $64,000 loan in seven years if the interest rate on the loan is 4.5% compounded: (Do not round intermediate calculations and round your final answers to 2 decimal places.)
Required payment | |||
a. | Annually | $ | |
b. | Semiannually | $ | |
c. | Quarterly | $ | |
d. | Monthly | $ | |
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