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Please answer number 6, as it goes with number 5 i believe. thanks in advance 5. If you borrow $10,000 for five years at an
Please answer number 6, as it goes with number 5 i believe. thanks in advance
5. If you borrow $10,000 for five years at an interest rate of 6% compounded monthly, what is your monthly payment if the first payment occurs at EOM1? b) How much interest and how much principal is in the 31st payment? 6. If you decide to add an additional principal payment of $100 each month, beginning at EOM 10, how soon will you pay off the loan (Month #?) What is the amount of your last paymentStep by Step Solution
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