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Which of these expressions will give the unpaid balance after 5 years on an $80,000 loan with an APR of 4.8%, compounded monthly, if the monthly payment is $519.17?
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Which of these expressions will give the unpaid balance after 5 years on an $80,000 loan with an APR of 4.8%, compounded monthly, if the monthly payment is $519.17?

User Anchit Pancholi
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1 Answer

5 votes

Answer: $80,000(1+0.004)^60 + $519.17 [1-(+0.004)^60/0.004]

Explanation:

User Mangesh Auti
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