A business loan of $25,000 at 5% compounded quarterly is repaid by a payment of $250 at the end of each month. how many payments are required to settle the loan? what is the principal portion of the 15th payment? what is the interest portion of the 15th payment?

Answer rating: 100% (QA)

Okay lets solve this stepbystep 1 The loan amount is 25000 at 5 interest compounded quarterly 2 M... View the full answer