Fill This Form To Receive Instant Help
Homework answers / question archive / $14,000 loan at 6% compounded monthly is repaid by monthly payments over four years
$14,000 loan at 6% compounded monthly is repaid by monthly payments over four years.
a. What is the size of the monthly payment? (ANSWER IS $291.70)
b. Calculate the principal portion of the 25th payment. (ANSWER IS 328.79)
Already member? Sign In