Jean and Walter Pereira financed the addition of a swimming pool using a $24,000 home improvement loan
Question:
Jean and Walter Pereira financed the addition of a swimming pool using a $24,000 home improvement loan from their bank. Monthly payments of $500 (except for a smaller, final payment) include interest at 5.2% compounded semiannually. Construct a partial amortization schedule showing details of the first two payments, Payments 28 and 29, and the last two payments. What total interest will the Pereiras pay over the life of the loan?
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Given The total number of payments is There will be 5...View the full answer
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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