Find the periodic payment r required to amortize a loan of


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Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded m times a year. (Round your answer to the nearest cent.)

P = 60,000, r = 3.5, t = 11, m = 4

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Finance Basics: Find the periodic payment r required to amortize a loan of
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