Question
What is the amount of interest and repayment of principal balance in month 2 for a loan of $10,000, paid monthly over five years at
What is the amount of interest and repayment of principal balance in month 2 for a loan of $10,000, paid monthly over five years at a 7 percent APR?
A. Interest = $157.52, Principal repayment = $40.49
b. Interest = $101.32, Principal repayment = $57.51
c. Interest = $107.52, Principal repayment = $40.49
d. Interest = $57.52, Principal repayment = $140.49
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Principles Of Sustainable Finance
Authors: Dirk Schoenmaker, Willem Schramade
1st Edition
0198826605, 978-0198826606
