Question
A person amortizes a loan of $23000 for a car with a 5 years loan at the rate of 7.5% compounded monthly. (a) Find the
A person amortizes a loan of $23000 for a car with a 5 years loan at the rate of 7.5% compounded monthly.
(a) Find the montly payments.
The payments are of $ .
(b) Find the total interest charges.
The interest is $ .
(c) Find the principal remaining after 2 years.
The principal remaining is of $ .
please show the full and clear steps
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The Risk Modeling Evaluation Handbook Rethinking Financial Risk Management Methodologies In The Global Capital Markets
Authors: Greg Gregoriou, Christian Hoppe, Carsten Wehn
1st Edition
0071663703, 978-0071663700
