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MAT 144 Topic 4 Major Assignment 2 - Online and TradOnline (Savings and Loan Analysis)

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Contributed : Patricia

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You have decided to invest 15% of your monthly income into a savings account for 10 years. You will make monthly contributions, and the balance earns interest at a rate of 6.2%.

What is the monthly payment amount needed to pay off a loan principal amount of $250,000 over 30 years, given an interest rate of 7.3%?

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