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Fully amortized loen (ennual payments for principal and interest with the same amount each yeat). Chuck Ponti has taked an eldefly woman into ioaning him
Fully amortized loen (ennual payments for principal and interest with the same amount each yeat). Chuck Ponti has taked an eldefly woman into ioaning him 525 , oco for a new buetinest verture. She has, however, wockesshuly passed a finence class and requiest Chuck to sign a binding contract on reboyment of the $25,000 with an annual interest rate of 11% over the next 5 yeart ongine' 525,000 loan What is the amount ol payment that the woman will receive at the end of years 1 through 59 (Round to the nosest cent)
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