An annuity providing a rate of return of 4.8% compounded monthly was purchased for $45,000. The annuity
Question:
a. How much of Payment 37 will be interest?
b. What will be the principal portion of Payment 92?
c. How much interest will be paid by Payments 85 to 96 inclusive?
d. How much principal will be repaid in the fifth year?
e. What will be the amount of the final payment?
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Given PV 45000 i 48 12 04 PMT 400 a Interestin Payment 3...View the full answer
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