A woman takes out a loan to be paid back over 4 years at j₁₂ = 6% with monthly payments of 281.82.After 14 payments,the outstanding balance on the loan is $8791.53.She then misses the next 4 payments (from time 15 to 18).She begins making regular monthly payments at time 19.If she still wants to pay back her loan in full by the end of 4 years,what is the size of her new monthly payment?

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The Answer of A woman takes out a loan to be paid back over 4 years at j₁₂ = 6% with monthly payments of 281.82.After 14 payments,the outstanding balance on the loan is $8791.53.She then misses the next 4 payments (from time 15 to 18).She begins making regular monthly payments at time 19.If she still wants to pay back her loan in full by the end of 4 years,what is the size of her new monthly payment?

A Woman Takes Out a Loan to Be Paid Back