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Can someone show me how to do the math for this question. I use a TI-84...

Can someone show me how to do the math for this question. I use a TI-84 plus calculator. Thank you.

You can afford to pay $5,000 per month for a personal loan to establish your business. The interest rate is 2.25% for a 15-year fixed loan.

a. How much can your borrow? Round to the nearest dollar.

b. How much is the total payment? Round to the nearest dollar.

c. How much is the interest? Round to the nearest dollar.

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Answer #1

loan Formula Pmt - A * 1(1+r) 1. A= (ltr) - 1 Pmt ((1+r)^-1) (ltryn A - Amount borrowed post = monthly payment = $ 5ooo Te i

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