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You receive a $18,000 5-year constant amortization loan (CAL). The loan's annual interest rate is 10%. What is the total payment in year 4, rounded
You receive a $18,000 5-year constant amortization loan (CAL). The loan's annual interest rate is 10%. What is the total payment in year 4, rounded to the nearest dollar? QUESTION 5 You receive a 4-year $18,000 negative amortization loan with an interest rate of 11% p.a., to be repaid in four annual installments. The loan requires that you make total payments of $500 at t=1,$300 at t=2, and $500 at t=3, with the remaining loan balance paid at maturity. What is the total payment amount at t=4, rounded to the nearest dollar
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