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Can you please show me how they got these 2 answers to these probems step by step. I will be using a finance calculator our
Can you please show me how they got these 2 answers to these probems step by step. I will be using a finance calculator
our company has just taken out a 1-year installment loan for $100,000 Monthly payments on the loan will be $8,978, due at the end of each month What percentage of the 3rd monthly payment will go toward the repayment of principal? a. b. c. d. 91.70% 94.81% 86.79% 88.54% Mark4 Your company has just taken out a 12-month 1oan for $100,000. Monthly payments on the loan will be $8,978, due at the end of each month. How much will go toward the repayment of principal in the 5th payment? a. 8088.93 b. 7995.75 c. 8183.20 d. 60015.87 e. 8278.57Step by Step Solution
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