4546 Refer to Figure 13.1.7 in each part. Suppose that $3000 is borrowed at an interest

Chapter 13, Problem 46

(choose chapter or problem)

4546 Refer to Figure 13.1.7 in each part. Suppose that $3000 is borrowed at an interest rate of 4%.(a) Estimate the monthly payment on the loan.(b) If the interest rate increases to 7%, estimate how muchless would need to be borrowed so as not to increasethe monthly payment.

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