Question
A loan is being amortized overn-years with monthly payments of$295.32. The rate of interest on the loan is j12=12%. The principal repaid in the 25th
A loan is being amortized overn-years with monthly payments of$295.32. The rate of interest on the loan is j12=12%. The principal repaid in the 25th payment is$206.41.What is the size of theloan? (answer to nearestdollar)
A.$16,095
B.$13,276
C.$13,437
D.$16,256
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino
6th Canadian edition
1259453146, 978-1259453144
