A $125,000 loan at 6.0% compounded semiannually will be repaid by monthly payments over a 20year amortization
Question:
a. Calculate the interest component of Payment 188.
b. Calculate the principal component of Payment 101.
c. Calculate the reduction of principal in Year 1.
d. Calculate the reduction of principal in Year 20.
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Given PV 125000 n 1220 240 i 6 2 3 c 212 a Interest ...View the full answer
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