Question
Your company has just taken out a 1-year installment loan for $72,500 at a nominal rate of 5.0% but with equal end-of-month payments. What percentage
Your company has just taken out a 1-year installment loan for $72,500 at a nominal rate of 5.0% but with equal end-of-month payments. What percentage of the 2nd monthly payment will go toward the repayment of principal?
| 94.57% | ||
| 75.47% | ||
| 101.26% | ||
| 95.53% | ||
| 91.71% |
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The Essential Nonprofit Fundraising Handbook
Authors: Michael A. Sand, Linda Lysakowski
1st Edition
1601630727, 978-1601630728
