Question
A $250,000 loan, with annual interest at 5.7%, c/q, requires quarterly, end of period payments of $8,000. How much will the final payment be? How
A $250,000 loan, with annual interest at 5.7%, c/q, requires quarterly, end of period payments of $8,000.
How much will the final payment be?
How much interest is paid on the 30th payment?
What is the balance still owing after 10 years?
How much of the loan principal will be paid, in total, during years 8 and 9?
How much interest is paid, in total, during the life of the loan?
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Principles Of Investments
Authors: Alan Marcus, Zvi Bodie, Michael Drew, Anup Basu, Alex Kane
1st Edition
0071012389, 978-0071012386
