{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-06T03:25:04-04:00", "answer_date": "2024-06-06 03:25:04", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2339881", "url": "\/study-help\/questions\/your-friend-needs-to-borrow-26995-from-a-credit-union-2339881", "question_creation_date_js": "2024-06-06T03:25:04-04:00", "question_creation_date": "Jun 06, 2024 03:25 AM", "meta_title": "[Solved] Your friend needs to borrow $26,995 from | SolutionInn", "meta_description": "Answer of - Your friend needs to borrow $26,995 from a credit union to pay tuition at a local college. The credit union charges a | SolutionInn", "meta_keywords": "friend,borrow,$26,995,credit,union,pay,tuition,local,college,charges,3.5%,nominal", "question_title_h1": "Your friend needs to borrow $26,995 from a credit union to pay tuition at a local college. The credit union charges a 3.5% nominal annual", "question_title": "Your friend needs to borrow $26,995 from a credit union to pay", "question_title_for_js_snippet": "Your friend needs to borrow $26,995 from a credit union to pay tuition at a local college The credit union charges a 3 5 nominal annual rate The terms of the loan require that your friend make 12 equal end of the month payments each year for 4 years and then an additional final balloon payment of $7,500 at the end What's would the equal monthly payments be Show your work ", "question_description": "

Your friend needs to borrow $26,995 from a credit union to pay tuition at a local college. The credit union charges a 3.5% nominal annual rate. The terms of the loan require that your friend make 12 equal end of the month payments each year for 4 years and then an additional final balloon payment of $7,500 at the end. What's would the equal monthly payments be? Show your work. <\/p>", "transcribed_text": "", "related_book": { "title": "Mathematical Applications for the Management Life and Social Sciences", "isbn": "9781337032247, 9781305465183, 1305108043, 1337032247, 1305465180, 978-1305108042", "edition": "11th edition", "authors": "Ronald J. Harshbarger, James J. Reynolds", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1386.jpg", "uri": "\/textbooks\/mathematical-applications-for-the-management-life-and-social-sciences-11th-edition-1386", "see_more_uri": "" }, "free_related_book": { "isbn": "1784396931", "uri": "\/textbooks\/intellij-idea-essentials-1st-edition-978-1784396930-320532", "name": "Intellij Idea Essentials", "edition": "1st Edition" }, "question_posted": "2024-06-06 03:25:04", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/a-compensating-balance-essentially-increases-the-interest-rate-on-money", "description": "\"A compensating balance essentially increases the interest rate on money borrowed.\" Explain.", "stars": 3 }, { "url": "\/study-help\/chemistry-principles-and-practice\/what-is-the-fraction-of-acid-ionized-in-each-acid-1227840", "description": "What is the fraction of acid ionized in each acid in Exercise 15.62? 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