Loan amortization, repayment and annuity: calculation of monthly installments

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Determine what payments are required to repay a $100,000 loan over 20 years in equal monthly installments if interest rates remain at 9% p.a. (compounded monthly)

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Solution Summary

The solution show all the computations to arrive at the amount of payments to repay a loan over 20 years.

$2.49