The interest rate on a $50,000 loan is 7.6% compounded semiannually. Quarterly payments will pay off the
Question:
a. Calculate the interest component of Payment 8.
b. Calculate the principal component of Payment 33.
c. Calculate the total interest in Payments 21 to 30 inclusive.
d. Calculate the reduction of principal in Year 3.
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Given PV 50000 n 410 40 i 762 38 c 24 05 a Interest component of Payment 8 i Bala...View the full answer
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Muhammad Salman Alvi
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