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What is the monthly cost of the debt for Barbara

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Question - Barbara borrows $3500. She agrees to make monthly interest payments on the loan and will build up a sinking fund with monthly deposits to repay the principal with a single payment 20 months from now. If the interest being charged on the loan is j12j12 = 8.5% and the interest being earned on the sinking fund is j12= 6%, what is the monthly cost of the debt for Barbara?

Reference no: EM133063663

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