Question
NorthCo takes out a $11,000 loan that charges 7 25% interest compounded semi-annually has foxed quarterly payments of $700 Answer the following questions For full
NorthCo takes out a $11,000 loan that charges 7 25% interest compounded semi-annually has foxed quarterly payments of $700 Answer the following questions For full marks your answer should be rounded to the nearest cent .
a) How long will it take to pay off the loan?
b) What is the principal component of the 5th payment?
c) What is the total interest paid for payments 3 through 6?
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A B 1 1 2 Monthly payment pmt 3 monthly interest raterate 7000 0525 4 numb...
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Project Management A Systems Approach to Planning Scheduling and Controlling
Authors: Harold Kerzner
10th Edition
978-047027870, 978-0-470-5038, 470278706, 978-0470278703
