Question
On a loan with j12 = 12% and monthly payments, the amount of principal in the 6 th payment is $40. a) Determine the amount
On a loan with j12 = 12% and monthly payments, the amount of principal in the 6 th payment is $40.
a) Determine the amount of principal in the 15th payment.
b) If there are 36 equal payments in all, determine the amount of the loan.
(Use Ammortization Formulas - Not Excel)
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Healthcare Finance An Introduction To Accounting And Financial Management
Authors: Louis Gapenski
1st Edition
1567930905, 978-1567930900
