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A man borrows $500,000 from the bank the bank charges 20% for the whole period of the loan. If the payment are 36 monthly installments. Calculate the amount each payment
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1 vote
A man borrows $500,000 from the bank the bank charges 20% for the whole period of the loan. If the payment are 36 monthly installments. Calculate the amount each payment

User Neric
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1 Answer

3 votes

Answer: $400,000

Explanation:

$500,000-20%=$400,000

User Savad
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