Given the Following: Amount Borrowed: 200,000 APR: 3% Term: 8 years a. What is the monthly payment? b. What is the amount of the monthly
Given the Following: Amount Borrowed: 200,000 APR: 3% Term: 8 years
a. What is the monthly payment?
b. What is the amount of the monthly payment that is interest in the 8th month?
c. What is the amount of monthly payment that is principle in the 10th month?
d. What is the effective interest rate on this loan?
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Authors: Paul Asquith, Lawrence A. Weiss
2nd Edition
1119537835, 978-1119537830
