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Mathematics, 21.05.2020 07:03 shelbs6632

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Katelyn plans to apply for a $10,000 loan at an interest rate of 5.6% for 5 years. Use the monthly payment formula to complete the statement.

P(r/12) (1+r/12)^12t
M=(1+r/12)^12t-1

M= monthly payment
Pe principal
ra interest rate
t = number of years

Rounded to the nearest cent, Katelyn's monthly payment
the loan is $

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