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Your cousin has agreed to loan you $18000 to help you buy a car. He'll give you a much lower interest rate than you could
Your cousin has agreed to loan you $18000 to help you buy a car. He'll give you a much lower interest rate than you could get through the dealership, charging 1.5% interest for three years compounded weekly. Fill in the following chart for the amortization schedule of the first two and the last payments.
Payment # | Amt. Paid | Interest | Principal | Balance |
---|---|---|---|---|
1 | $118.02 | |||
2 | $118.02 | |||
155 | $118.02 | $0.07 | $117.95 | $117.5 |
156 |
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