A $125,000 loan at 6.0% compounded semiannually will be repaid by monthly payments over a 20-year amortization
Question:
a. Calculate the interest component of Payment 188.
b. Calculate the principal component of Payment 101.
c. Calculate the reduction of principal in Year 1.
d. Calculate the reduction of principal in Year 20.
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Given PV 125000 n 1220 240 i 6 2 3 c 212 a Interestcomponent of Payment 188 i Balance afterPayment ...View the full answer
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