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Suppose that you have a(n) $19,000 loan on which the bank charges you a(n) 11.82% APR, compounded monthly. You must pay the loan off over
Suppose that you have a(n) $19,000 loan on which the bank charges you a(n) 11.82\% APR, compounded monthly. You must pay the loan off over 6 years with monthly payments. How much of payment 38 is interest expense? Round your answer to two decimal places. Question 25 Suppose that you have a(n)$124,000 loan on which the bank charges you a(n)8.3% APR, compounded monthly. You must pay the loan off over 20 years with monthly payments. How much of payment 200 is principal repayment? Round your answer to two decimal places. Question 26 1pts Your business borrowed $166,000 at 8.8% from the local bank. The loan was to be repaid over 20 years with 6 payments each year. You just remitted payment number 67 . How much interest will be paid over the life of the loan, assuming that you pay it off as scheduled? Round your answer to two decimal places
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