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The second file is for a client named Toomes, who also has a mortgage with the bank. The details you can gather for Toomes' loan
The second file is for a client named Toomes, who also has a mortgage with the bank. The details you can gather for Toomes' loan are as follows:
- Current loan outstanding: $309,000
- Current monthly repayment: $2770
- Next repayment: Due exactly 1 month from now
- Interest rate on loan: i12=8.7%
Using this information, determine the following:
- What will be Toomes' loan outstanding after 1 month, immediately after the payment due on that day? Do NOT include a dollar sign in your answer.
- What is the loan outstanding after 1 year? Give your answer to the nearest cent, and do NOT include a dollar sign.
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10 Ways To Get Rich From Futures Trading
Authors: Giuseppe Scuti
1st Edition
1983398411, 978-1983398414
