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11. [0/6.66 points) DETAILS PREVIOUS ANSWERS TANFIN12 5.3.034. 1/6 Submissions Used MY NOTES ASK YOUR TEACHER Joe secure
Posted: Thu May 12, 2022 1:12 pm
by answerhappygod
- 11 0 6 66 Points Details Previous Answers Tanfin12 5 3 034 1 6 Submissions Used My Notes Ask Your Teacher Joe Secure 1 (21.79 KiB) Viewed 29 times
11. [0/6.66 points) DETAILS PREVIOUS ANSWERS TANFIN12 5.3.034. 1/6 Submissions Used MY NOTES ASK YOUR TEACHER Joe secured a loan of $13,000 three years ago from a bank for use toward his college expenses. The bank charges interest at the rate of 5%/year compounded monthly on his loan. Now that he has graduated from college, Joe wishes to repay the loan by amortizing it through monthly payments over 15 years at the same interest rate. Find the size of the monthly payments he will be required to make. (Round your answer to the nearest cent.) $ 113.59