Question
You borrowed $100,000 exactly 2 years ago. The loan is structured as an amortized loan. The interest rate is 6% and you make quarterly (end-of-quarter)
You borrowed $100,000 exactly 2 years ago. The loan is structured as an amortized loan. The interest rate is 6% and you make quarterly (end-of-quarter) payments of $1,937.06. The loan is amortized over 25 years. How much principal have you paid over the first 2 years?
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Personal Finance
Authors: E Thomas Garman, Raymond E Forgue
10th Edition
143903902X, 9781439039021
