A loans quirky terms require the first payment to be made, Ask an Expert

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A loan's quirky terms require the first payment to be made at the moment the money is lent. Payments are $86 every month, the monthly interest rate is 0.4%, and the loan is paid off in equal payments over 5 years. How much money was borrowed? Answer and round to the nearest cent.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92801825

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