Ms. Esperanto obtained a $41,600 home equity loan at 9% compounded monthly. (Do not round intermediate calculations. Rou
Posted: Mon Jul 11, 2022 12:46 pm
Ms. Esperanto obtained a $41,600 home equity loan at 9%compounded monthly. (Do not round intermediatecalculations. Round the PMT and final answers to 2 decimalplaces.)a. What will she pay monthly if theamortization period is 11 years?Payment $ per monthb. How much of the payment made at the end ofthe fourth year will go towards principal and how much will gotowards interest?
c. What will be the balance on the loan afterfour years?Balance $ d. How much interest did she pay during thefourth year?Interest paid $
c. What will be the balance on the loan afterfour years?Balance $ d. How much interest did she pay during thefourth year?Interest paid $