Mathematics, 29.10.2019 04:31 NobleWho
An amortized loan has 10 annual payments at the end of each year starting one year from now. the first 5 payments are $1,000 each and the final 5 payments are $500 each. interest is at an effective annual rate of 10%. find each of the following: (a) the initial loan amount; (b) the outstanding balance just after the 3rd payment; (c) the interest and principal in the 4th payment; (d) the outstanding balance just after the 8th payment.
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An amortized loan has 10 annual payments at the end of each year starting one year from now. the fir...
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