You have just borrowed 12000 from falcon bank to buy a new
Question: You have just borrowed $12,000 from Falcon Bank to buy a new Ford. The loan is to be repaid in 50 equal monthly installments. If the stated (nominal) annual interest rate is 12%, then what is the amount of each of the monthly installments?
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question you have just borrowed 12000 from falcon bank to buy a new ford the loan is to be repaid in 50 equal monthly
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