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What is the value of the total payment

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You want to lend $20,000, 3 % over 18 as a bank deposit in a private bank with an interest rate per month. You plan to withdraw principle and interest as equal/uniform end-of-period payments MONTHS.

Problem 1: What is the total interest paid to you at the end of 18 months?

Problem 2: What is the value of the total payment?

Reference no: EM132795359

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