A $22,950 loan is to be settled by making payments of $6,934 at the end of...
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A $22,950 loan is to be settled by making payments of $6,934 at the end of every month. The interest is 6.29% compounded quarterly. a) Find the number of payments in the term. N b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers. Payment Number 0 1 2 3 4 Payment Amount ($) PMT $ $ $ $ = Interest Portion ($) INT SA 6A Principal Portion ($) PRN FA $ $ $ $ Loan Balance ($) BAL $ $ $ GA $ $22,950 A $22,950 loan is to be settled by making payments of $6,934 at the end of every month. The interest is 6.29% compounded quarterly. a) Find the number of payments in the term. N b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers. Payment Number 0 1 2 3 4 Payment Amount ($) PMT $ $ $ $ = Interest Portion ($) INT SA 6A Principal Portion ($) PRN FA $ $ $ $ Loan Balance ($) BAL $ $ $ GA $ $22,950
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Principles of Operations Management Sustainability and Supply Chain Management
ISBN: 978-0134181981
10th edition
Authors: Jay Heizer, Barry Render, Chuck Munson
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