tremsand16 tremsand16

15-06-2020
Computers and Technology

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Suzanne Brett wants to borrow $55,000 from the bank. The interest rate is 6.5% and the term is for 5 years.

What is the yearly payment amount?

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mhanifa mhanifa

15-06-2020

Answer:

$14575

Explanation:

$55000
6.5%
5 years

Total payment amount:

$55000+5*6.5%= $55000 +32.5%= $55000 *1.325= $72875

Yearly payment:

$72875/5= $14575

Answer Link

05-11-2020

Answer:

$3,575

Explanation:

Answer Link

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