A loan of $A is taken out and is to be repaid with level monthly payments over n-years at j₁₂ = 18%.The outstanding balance after 75 payments is $16,855.14 and after 76 payments is $16,590.17.What is the monthly payment?

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The Answer of A loan of $A is taken out and is to be repaid with level monthly payments over n-years at j₁₂ = 18%.The outstanding balance after 75 payments is $16,855.14 and after 76 payments is $16,590.17.What is the monthly payment?

A Loan of $A Is Taken Out and Is to Be