A loan of $12 000 is amortized over 10 years by equal monthly payments at 7.5% compounded

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A loan of $12 000 is amortized over 10 years by equal monthly payments at 7.5% compounded monthly. Construct an amortization schedule showing details of the first three payments, the 40th payment, the last three payments, and totals.

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:12 AM

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A loan of $12 000 is amortized over 10 years by equal monthly payments at 7.5% compounded

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Loan amount 12000 Rate of interest 75 per annum compound monthly So Monthly interest rate 0...View the full answer

Contemporary Business Mathematics with Canadian Applications

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