# Loan

Apply for a $59000 loan, the loan repayment period is 8 years, the interest rate 7%. How much should I pay for every month (or every year if paid yearly). Example is for practise geometric progression and/or periodic payment for an annuity. ### Correct answer: m = 804.39 USD y = 9880.6 USD ### Step-by-step explanation: Did you find an error or inaccuracy? Feel free to write us. Thank you! Tips to related online calculators Do you want to convert time units like minutes to seconds? #### You need to know the following knowledge to solve this word math problem: ## Related math problems and questions: • Interest Calculate how much you earn for$n years $x deposit if the interest rate is$p% and the interest period is a quarter.
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