Problem
1. A loan company will lend you £5,000, repayable over the next 3 years in monthly payments. What will these payments be if the APR on the loan is 24.6%?
2. What will be the monthly payments on a repayment mortgage of £75,000 taken out over 20 years if the interest rate is fixed at 0.95% per month?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.