Find the future value of the loan of $700 at 4.25% for 7 months O $71893 O $717.35 OS0825

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A: (a) Obtain the monthly payment as follows.

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A: The formula to find is, Remaining balance =  (Original balance*(1+r)^n)-EMI*((((1+r)^n)-1)/r)

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A: Information provided: Present value = $8,400 Time= 125 weeks Interest rate= 7.7%/52 = 0.1481% per…

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Q: Find the monthly payment on a 30-year fixed mortgage loan of $108,525 if the interest rate is 6 3/4%

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A: given that P  = $2900 R = 8% T = 4 years formula used for compound interest is…

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Q: Mr.  Allen purchased an annuity that pays 19% compouned annually. If the yearly payment is $3,500,…

A: With the help of compound interest formula we can solve this problem easily- The formula for…