Random7388 Random7388

22-05-2023
Mathematics

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For a loan of $100,000, at 4 percent annual interest for 30 years, find the balance at the end of 4 years and 15 years, assuming monthly payments.
a. Balance at the end of 4 years is $88,416.58. b. Balance at the end of 15 years is $63,082.89.

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