A $37,000 loan at 8.2% compounded semiannually is to be repaid by semiannual payments of $2500 (except
Question:
a. What will be the principal component of the sixteenth payment?
b. What will be the interest portion of the sixth payment?
c. How much will Payments 8 to 14 inclusive reduce the principal balance?
d. How much interest will be paid in the fifth year?
e. What will be the final payment?
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Given PV 37000 i 282 41PMT 2500 a Principalin Payment 16 ...View the full answer
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