What is the outstanding balance after the 12th payment
Problem: A loan of $10 000 is paid off with payment of $170.49 made at the end of each month for six years. The interest rate is 7% compounded monthly.
What is the outstanding balance after the 12th payment?
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A loan of $10 000 is paid off with payment of $170.49 made at the end of each month for six years. The interest rate is 7% compounded monthly.
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