What are the monthly payments if you only paid interest

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Reference no: EM13980743

You wish to buy a $14,000 dining room set. The furniture store offers you a five-year loan with a 11 percent APR.

What are the monthly payments?

What are the monthly payments if you only paid interest over the length of the loan and your principal balance was repaid at the end of the 60 months?

Reference no: EM13980743

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