Question: i need help please answer correctly stas and Oscar borrowed $58.000 at 7.36% compounded annually as a second mortgage loan against their current home. Repayment
stas and Oscar borrowed $58.000 at 7.36% compounded annually as a second mortgage loan against their current home. Repayment amount is $950 at the end of every month. a. How many payments are required to repay the loan? Number of payments = b. Use the given information to complete the amortization table below. Determine the missing values for the first two payment intervals, the last two payment intervals, and the totals. Report results to the nearest cent
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
