Quarterly payments of $3000 are required on an $80,000 loan at 8.0% compounded quarterly. a. Calculate the

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Quarterly payments of $3000 are required on an $80,000 loan at 8.0% compounded quarterly.
a. Calculate the interest component of Payment 30.
b. Calculate the principal component of Payment 9.
c. Calculate the final payment.

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Sep 21, 2024 08:02 AM

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Quarterly payments of $3000 are required on an $80,000 loan at 8.0% compounded quarterly. a. Calculate the

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Given PV 80000 PMT 3000 i 8 4 2 a Interestcomponent of Payment 30 i Bal...View the full answer

Business Mathematics In Canada

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