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For Questions 22 to 23: The table below shows the first few lines of amortization schedule for a many-year loan with equal monthly repayments at
For Questions 22 to 23: The table below shows the first few lines of amortization schedule for a many-year loan with equal monthly repayments at the end of each month. Unfortunately there are a few numbers missing from the table labelled with W,X,Y,Z. 22. Which ONE of the following is correct? Round your answer to two decimal places. A. The balance owing Y is $246,416.60. B. The loan paid off for X is $3,583.40. C. The monthly repayment amount for W is $4,832.20. D. The monthly interest expense for Z is $1,232.08. E. We do not have enough information to figure out all W,X,Y and Z. 23. Referring to the loan amortization schedule above, which ONE of the following is correct? A. The APR of the loan is 3.00% p.a. with monthly compounding. B. The APR of the loan is 6.00% p.a. with monthly compounding. C. The APR of the loan is 9.00% p.a. with monthly compounding. D. The APR of the loan is 12.00% p.a. with monthly compounding. E. We cannot figure out the APR of the loan because we do not have enough information to do the calculation
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