Question: How much will you owe a bank at the end of the 27th month if you took a loan of $25,000 for a period of 72 months at a rate of 6% per year compounded monthly, if you paid the bank your entire bonus of $12,000 at the end of the 12th month to bring down the loan quickly? You make payments to the bank at the end of every month. $421 $3,727 $7,090 $11,063How much will you owe a bank at the end of the 27th month if you took a loan of $25,000 for a period of 72 months at a rate of 6% per year compounded monthly, if you paid the bank your entire bonus of $12,000 at the end of the 12th month to bring down the loan quickly? You make payments to the bank at the end of every month. $421 $3,727 $7,090 $11,063
