Question
Problem 2 a)Principal amount - 360000; b)Annual interest rate - 8.00% c)Periods per year - 12; d)Total number of payments - 360 Question (i)What is
Problem 2
a)Principal amount - 360000; b)Annual interest rate - 8.00%
c)Periods per year - 12; d)Total number of payments - 360
Question (i)What is the percentage rate per period?
Question(ii)How many months will it take to pay off the loan if you pay an extra 220.13 per month?
Question(iii)What is the total amount of payments made over the life of the loan?
Question(iv)What is the monthly payment?
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Financial Management For Decision Makers
Authors: Peter Atrill
9th Edition
1292311436, 978-1292311432
