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8 February, 19:09

You borrow $A at an interest rate of r% (per month) and pay it off over t months by making monthly payments of P = g (A, r, t) dollars. Suppose you plan to borrow $ 4000 with a monthly interest rate of 2 % for 12 months. In financial terms, what do the following statements tell you?

a. gA (8000, 2, 12) = 0.045

b. gr (8000, 2, 12) = 44.79

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  1. 8 February, 21:36
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    I think the answer is a-gA (8000,2, 12) = 0.045
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