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| rev | Admin | (Created page with "'''Solution: D''' The initial level monthly payment is <math display = "block"> R=\frac{400,000}{a_{\overline{15 \times 12}|0.09/12}}=\frac{400,000}{a_{\overline{180}|0.075}}=4,057.07. </math> The outstanding loan balance after the 36th payment is <math display = "block"> B_{3\mathrm{6}}=R a_{\overline{{{160-36}}}|0.0075}=4,057.07a_{\overline{{{144}}}|0.0075}=4,057.07(87.8711)=356,499.17. </math> The revised payment is 4,057.07 – 409.88 = 3,647.19. Thus, <math...") | Nov 18'23 at 23:04 | +726 |