Question
$200,000 direct reduction loan is taken out at an interest rate of 5%. $1200 is the monthly payment. -Find the number of payments required to
$200,000 direct reduction loan is taken out at an interest rate of 5%. $1200 is the monthly payment.
-Find the number of payments required to pay off the loan.
-Find the amount paid towards interest and principal in 3 years.
-What is the remaining balance after the 3 years (36th ) payment has been made?
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Accounting And Auditing Practices In Africa
Authors: Mariaan Roos, Lesley Stainbank
1st Edition
1928357431, 978-1928357438
