Question
PLEASE ANSWER BOTH! Q11) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $14,742.00 with
PLEASE ANSWER BOTH!
Q11) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $14,742.00 with an annual interest rate of 10.93% . The loan will be repaid over 5.0 years with monthly payments. a) Loan payment (1 point) b) Interest portion (1 point) c) Principle portion (1 point) d) Loan balance after first monthly payment (1 point)
Q9) If you deposit $893.00 at 18.05% annual interest compounded daily, how much money will be in the account after 20.0 years? (Assume that there are 364 days in a year and show your answer to the nearest cent) (1.5 points)
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