A couple borrows $25,000 to be repaid with the monthly payments over 48 months at j4 = 12%…. 1 answer below »

A couple borrows $25,000 to be repaid with the monthly payments over 48 months at j4 = 12%. They make the first 14 payments and miss the next three. What new equal monthly payments (up to the next dime) over 31 months would repay the loan on schedule and what will be the concluding payment?

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