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Your company takes out a $20,000 equal principal loan over 4 years. The APR is 9% compounded monthly. What is the monthly principal payment? (I

Your company takes out a $20,000 equal principal loan over 4 years. The APR is 9% compounded monthly. What is the monthly principal payment? (I get 497.7)

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Your company takes out a $20,000 equal principal loan over 4 years. The APR is 9% compounded monthly. What is the monthly principal payment? $5000.00 x $566.67 $416.67 $497.70

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