A $30,000 loan at 6.7% compounded annually requires monthly payments of $450. a. Calculate the interest component
Question:
a. Calculate the interest component of Payment 29.
b. Calculate the principal component of Payment 65.
c. Calculate the final payment.
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Given PV 30000 PMT 450 i 67 1 67 Then c 112 and i 2 1 i C 1 1067 1 000541887698 a Interest compo...View the full answer
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