Question
A $6000 loan is to be repaid over 5 years with monthly payments of j12 = 6% p.a. Determine the amount of principal that is
A $6000 loan is to be repaid over 5 years with monthly payments of j12 = 6% p.a. Determine the amount of principal that is paid on the 50th payment.
A. $6.19 B. $109.81 C. $1128.73 D. $5.64 E. $1238.54
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Principles Of Finance
Authors: Besley, Scott Besley, Eugene F Brigham, Brigham
4th Edition
0324655886, 9780324655889
