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Can you check my answer? Also can you solve number 4 and 8 please. You borrow money on a self liquidating installment laan (equal poyments
Can you check my answer? Also can you solve number 4 and 8 please.
You borrow money on a self liquidating installment laan (equal poyments at the end of esch year, each payment is part principal part Intotesti Use the instanment method - not swaignt ne Do NOT round any intermedisto numbers. Do NOT turn this into e monthly problem. Do NOT put in trinus signs, answot all poritive numbers. Required: Required: 1. What is the annual pyyment (round to the nearen $ )? 2. What are the total interest poyments tround to the nearest $ i? 3. After 29 paymenta have been made, what percentage of the tou linterest has been paid fround to the nearest percentage point?? 4. Ater 29 payments frove been made, what percentage of the total principat nas been paid found to the nearest percentage point? Redo the probiem if the interest rate is 12 (for a woll dosigned sprebdsheet tris should thke 30 seconids) Required: 5. Fhat is the kntsual pyyment (round to the nemest 5)? 6. What are the totol interest peyments (oound to the neatest 3)? 4. After 29 payments have been made, what percentage of the total principal has been paid tround to the nearest percentoge point?? Redo the problem if the irterest rate is 19% (for a well designed spreadsheet this should take 30 seconds) Required: Required: What is the ennuai poyment (round to the nesrest \$)? 6. What are the total interest payments (round to the nearest \$)? s. 7. After 29 poyments have been made, what percentage of the total interest hus been paid fround to the nearest porcentage point? B. Afior 29 payments have been mode, what percentage of the total peincipal has been pold tround to the nearest percentage point Step by Step Solution
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