Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(b) How much wit the loan cost him? The cost of the loan is 519642 (FReund to the noarest cect ant hesedick ) (c) How

image text in transcribed
image text in transcribed
image text in transcribed
(b) How much wit the loan cost him? The cost of the loan is 519642 (FReund to the noarest cect ant hesedick ) (c) How nuich mili Angoto owe afier nichtiven motiths? Tho amound owed after egtheen monthis is s sigh bit (Roond ta the nourest rent im neosided) (d) How much inkerest wil he fary in has Y6th poyment? The interest in the 36 th payment is 3.2730 (Round to the nearest cent an needed] (e) How much of the poncpul wit toe requad by the 49el parmient? The amouge of the pincips repact by the tath parment is 5 tse 79 " (Found to the noarest cont as netoded) Partiat Ainoterafion Sctiedule (a) What is the size of the monthly payments? The size of a monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) (b) How much will the loan cost him? The cost of the loan is $ (Round to the nearest cent as needed.) (c) How much will Angelo owe after eighteen months? The amount owed after eighteen months is $ (Round to the nearest cent as needed) (d) How much interest will he pay in his 36 th payment? The interest in the 36 th payment is $28.30. (Round to the nearest cent as needed.) (Round to the nearest cent as needed) (e) How much of the principal will be repaid by the 48 th payment? The amount of the principal repaid by the 48 th payment is $ (Round to the nearest cent as needed.) (f) Prepare a partial amortization schedule showing details of the first three payments, payments 24,25,26, the last three payments, and totals. (Do not round until the final answers. Then round to the nearest cent as needed. Do not include the $ symbol in your answers.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Dividend Stocks For Dummies

Authors: Lawrence Carrel

1st Edition

0470466014, 978-0470466018

More Books

Students also viewed these Finance questions