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What would gerry combined monthly principal payments

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Question - Gerry recently took out a business loan for $75,000. He has since repaid $5,000. Gerry wants to pay the balance off in equal monthly amounts from now to ten months from now.

At an interest rate of 5.5% p.a., what would Gerry's combined monthly principal and interest payments be in order for him to pay off the balance of the loan in ten months?

Reference no: EM132932891

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