Question
I just need help with the last one (D) A five-year loan of $25,000 at 7.2% compounded quarterly requires quarterly payments.(Round your answer to 2
I just need help with the last one (D)
A five-year loan of $25,000 at 7.2% compounded quarterly requires quarterly payments.(Round your answer to 2 decimal places.)
A. Calculate the interest component of Payment 10.Interest component= $267.20
B. Calculate the principal component of Payment 13.Principal component= $1,300.12
C. Calculate the total interest in Payments 5 to 10 inclusive.Total interest= $1,922.45
D. Calculate the principal paid in Year 4.Principal paid $____?
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
