Question
On January 1, Matthew borrows $6300 with a fixed interest rate on the loan of 10% and a loan term of 2 years. He will
On January 1, Matthew borrows $6300 with a fixed interest rate on the loan of 10% and a loan term of 2 years. He will be making monthly payments of $290.71. How much of Matthews fifth loan payment would be interest charged?(Round answers to 2 decimal places, e.g. 52.75.)
$44.46
$42.41
$46.49
$48.51
On January 1, Steven borrows $5700 with a fixed interest rate on the loan of 10% and a loan term of 2 years. He will be making monthly payments of $263.03. How much of Stevens fifth loan payment would be principal?(Round answers to 2 decimal places, e.g. 52.75.)
$222.80
$217.33
$219.14
$220.96
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