Question
You borrowed $100,000 exactly 4 years ago. The loan structure is an amortized loan. The interest rate is 7% and you make quarterly(end of quarter)
You borrowed $100,000 exactly 4 years ago. The loan structure is an amortized loan. The interest rate is 7% and you make quarterly(end of quarter) payments of $2,124.88. The loan is amortized over 25 years. How much principle have you paid over the first 4 years? Round to nearest dollar.
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Microsoft Excel Data Analysis And Business Modeling
Authors: Wayne Winston
7th Edition
0137613660, 9780137613663
