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please answer question 7 a-i 7. Use the United States rule and the Banker's rule to answer the questions about the loan described in the
please answer question 7 a-i 7. Use the United States rule and the Banker's rule to answer the questions about the loan described in the table Effective Date Maturity date Principal Rate Partial payment amount $3600 $2400 Partial payment date Oct 15 Dec 1 Jan 14 $12,000 4.8% Sept 1 How much principal was paid on Oct 15? b. How much principal remained after the partial payment on Oct 15? C. How much principal was paid on Dec 1? 5 6 d. What was the total payment on the Jan 14 maturity date? e. What was the total amount paid to the lender? f. What was the total interest paid to the lender? 8 If the borrower had not made the partial payments, what would be the total amount paid to the lenderon the Jan 14 maturity date? That is what would total be if the borrower paid off the entire loan in a single payment on Jan 14? h. How much total interest would have been paid according to the scenario in part g? i. How much did the borrower save on interest by making the partial payments
please answer question 7 a-i
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