Question: Help I have d and e correct but A B and C I can't seem to figure it out. Thank you Aerotron Electronics has just
Help I have d and e correct but A B and C I can't seem to figure it out.
Thank you
Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest, with the agreement to pay nothing for the entire first year and then to pay $526.83 at the end of each month over years 2, 3, and 4 (first payment is in 13th month). a. What nominal interest rate is Aerotron paying on the loan? 0.1223 % b. What effective interest rate are they paying? 0.1294 % Round your answer to 4 decimal places for a and b. The tolerance is 0.0005. 366 c. How much of the 14th month's payment is interest? How much is principal? payment interest = $ 160 , and principal = $ d. How much of the 18th month's payment is interest? How much is principal? payment interest = $ 142 , and principal = $ e. How much of the 22nd month's payment is interest? How much is principal? payment interest - $ 126 , and principal = $ 385 400
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