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On May 8, Manuel borrowed $670.00 from his uncle at 4.2% per annum calculated on the daily balance He gave his uncle six cheques for
On May 8, Manuel borrowed $670.00 from his uncle at 4.2% per annum calculated on the daily balance He gave his uncle six cheques for $100.00 dated the 8th of each of the next six months starting June 8 and a cheque dated December 8 for the remaining balance to cover payment of interest and repayment of principal Construct a complete repayment schedule for the loan including totals for Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent as needed.)
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