BEMS borrows $400,000 for a new technology.  The lender charges them 36% annually with monthly compounding.  The agreement calls for no payment until the end of the first month of the 5th year with equal monthly payments thereafter for 5 years. What is the loan balance at the end of the deferred payment period? How much are the monthly payments?

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Q: how long will it take for teh account to be paid off?

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Q: nnual

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Calculating the Return On A Loan