Question
Rebecca Reed just graduated from dental school and borrows $ 147000 from Citibank to purchase equipment. She agreed to amortize the loan with monthly payments
Rebecca Reed just graduated from dental school and borrows $ 147000 from Citibank to purchase equipment. She agreed to amortize the loan with monthly payments of $ 1511 at 7 % compounded quarterly. Fill out the missing information below. DO NOT INCLUDE ANY UNITS IN YOUR WORK BELOW. SOLUTION: i2=Answer Loan Repayment Schedule N Payment Interest Portion Principal Portion Balance 0 --- --- --- Answer 147000 1 Answer 1511 Answer 2572.5 Answer Answer 2 Answer 1511 Answer Answer Answer Answer --- --- --- Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer 0 Total Interest paid=$Answer
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