Angela currently owes $6,000 to a friend who is charging her interest of 2.80% p.m. She is required to settle the loan with two equal payments, one today and the other in three months. Calculate the size of the payments using three months as the focal date. Round to the nearest cent

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A: Answer:- Given, m = $ 50r = 5% = t = 9 yearn = 12Using formula, The present value of an annuity,

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

A: For solving this given problem:

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