Suppose you want to borrow $110,000 and you find a bank offering a 20-year term for a loan of that amount, with an APR of 4%.
a. Find your regular payments if you make them yearly, monthly, biweekly (every 2 weeks), or weekly that is, for n equals1, 12, 26, 52.
b. Compute the total payment for each case in part (a).
c. Compare the total payments computed in part (b).
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Part 1
a. The payment for nequals1 would be $
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The payment for nequals12 would be $
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The payment for nequals26 would be $
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The payment for nequals52 would be $
enter your response here.
