Question
Given the following partial amortization table for a loan being repaid by level repayment of principle : Time K(t) I(t) PR(t) OB(t) 0 1 185.62
Given the following partial amortization table for a loan being repaid by level repayment of principle:
| Time | K(t) | I(t) | PR(t) | OB(t) |
|---|---|---|---|---|
| 0 | ||||
| 1 | 185.62 | 2,970.00 | 26,730.00 | |
| 2 | ||||
| 3 | ||||
| 4 | ||||
| 5 |
Compute the payment amount K4.
a.
$3,347.93.
b.
$3,223.93.
c.
$3,533.93.
d.
$3,316.93.
e.
$3,099.94.
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Advanced Accounting
Authors: Floyd A. Beams, Robin P. Clement, Suzanne H. Lowensohn, Joseph H. Anthony
9th Edition
0131851225, 978-0131851221
