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Unformatted text preview: pay the same monthly payment. Jamie's loan is for $15,000; however, his loan matures at the end of 4 years (48 months), while Jake's loan matures in 5 years (60 months). After 48 months Jamie's loan will be paid off, but what will be the remaining balance on Jake's loan? A) $ 1,998.63 B) $ 4,445.84 C) $ 2,757.58 D) $11,198.55 E) $ 3,138.52 Points Earned: 5.0/5.0 Correct Answer(s): B...
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This note was uploaded on 11/04/2009 for the course BUS FIN 2100 taught by Professor Shmidl during the Spring '09 term at Laramie County Community College.
- Spring '09