Question
A local business received a $50,000 loan at 3.55% compounded semi-annually. The business settled the loan with quarterly payments of $875. A.) How many payments
A local business received a $50,000 loan at 3.55% compounded semi-annually. The business settled the loan with quarterly payments of $875.
A.) How many payments are required to settle the loan?
B.) What was the interest portion of payment 27?
C.) What was the size of the final payment?
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Real Estate Finance And Investment
Authors: Terrence M. Clauretie, G. Stacy Sirmans
8th Edition
1629809942, 9781629809946
