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A $23,440 loan is to be settled by making payments of $6,871 at the end of every three months. The interest is 6.15% compounded annually.
A $23,440 loan is to be settled by making payments of $6,871 at the end of every three months. The interest is 6.15% compounded annually. a) Find the number of payments in the term. N = b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers.
A $23,440 loan is to be settled by making payments of $6,871 at the end of every three months. The interest is 6.15% compounded annually. a) Find the number of payments in the term. N= b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answersStep by Step Solution
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