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yes for #2 it should probably be interest payment not principal because i was wondering about that too then again maybe its just the payment
yes for #2 it should probably be interest payment not principal because i was wondering about that too
then again maybe its just the payment amount ending in xxx.57 because it is compounded semi annually thus it wouldnt incur any interest yet?
You just borrowed $300,000 to buy a house. You plan to pay off your loan by making equal monthly payments over the next 20 years. Suppose the interest rate your bank charges you is an APR of 6%, compounded semi-annually. What is the monthly payment? $2,149.29 $1,250 $2.467.78 $2.136.57 $2,300 What is the principal payback for the first month? $654.57 $2,136.57 $1,482 $1,800 $1,500 Find out the balance at the end of Year 5. $254,389 $225,000 $171,806 $210,000 $300,000 What is the interest payment for the first month in Year 6? $1500 $1256.33 $1250 $1800 $1344.89 Step by Step Solution
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