6. You borrow $500 at 1.5% interest rate per month. This loan is being amortized over five months with equal payments be

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

6. You borrow $500 at 1.5% interest rate per month. This loan is being amortized over five months with equal payments be

Post by answerhappygod »

6 You Borrow 500 At 1 5 Interest Rate Per Month This Loan Is Being Amortized Over Five Months With Equal Payments Be 1
6 You Borrow 500 At 1 5 Interest Rate Per Month This Loan Is Being Amortized Over Five Months With Equal Payments Be 1 (77.4 KiB) Viewed 77 times
6. You borrow $500 at 1.5% interest rate per month. This loan is being amortized over five months with equal payments being made monthly. What is the amount of each annual payment? How would the constant amortization schedule look? Year Beginning Balance Principal Paid Interest Paid Total Payment Ending Balance 1 N 3 4 5 Totals
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”