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On March 10, 2020 TriDoha LLCG, borrowed QR 20,000 with an interest rate of 7%. The loan was repaid with payments of QR 2,500 on
On March 10, 2020 TriDoha LLCG, borrowed QR 20,000 with an interest rate of 7%. The loan was repaid with payments of QR 2,500 on June 30, 2020, QR 8,000 on September 4, 2020, and a final payment on November 15, 2020. What was the amount of the final payment? Explain what is happening to the interest payment (increasing or decreasing) and why Time Period Payment Made Interest Cost Beginning Principal Owing Principal Reduction Ending Principal Owing
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