according to which you are charged a 2%, 3%, and 4% interest rate in the first...

 

Transcribed Image Text:

according to which you are charged a 2%, 3%, and 4% interest rate in the first second and third years You get a loan of $10,000 today and in each of the following 3 years with an adjustable APR respectively. Interest rate will stay at 4% thereafter. You will pay back your debt with 6 equal annual payments beginning 5 years after you get your first loan. How much is your last payment and what portion of it is "the interest payment" and what portion of it is "the principal payment"? according to which you are charged a 2%, 3%, and 4% interest rate in the first second and third years You get a loan of $10,000 today and in each of the following 3 years with an adjustable APR respectively. Interest rate will stay at 4% thereafter. You will pay back your debt with 6 equal annual payments beginning 5 years after you get your first loan. How much is your last payment and what portion of it is "the interest payment" and what portion of it is "the principal payment"?

Answer rating: 100% (QA)

The first year is charged a 2 of interest rate 510 000 X 002 10 200 the 2 interest rate is equal ... View the full answer