Straight bank loan. Left Bank has a standing rate of 7.5% (APR) for all bank...
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Accounting
Straight bank loan. Left Bank has a standing rate of 7.5% (APR) for all bank loans and requires monthly payments. What is the monthly payment if a loan is for (a) $135,000 for 4 years, (b) $265,000 for 11 years, or (c) $1,100,000 for 26 years? What is the effective annual rate of each of these loans
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