If you borrow $14,000 for 360 months at 10% interest rate per year:

a.      What is the monthly repayment

b.      Using the values you just entered, how much can you borrow, if you want a payment of $100.00?

c.      How much can you borrow at 9.5% interest rate?

d.      Using this example amortize the 20th payment of the loan. (calculate the principal, the interest, and the balance amount.

e.      Amortize the 1st through the 24th loan payments (calculate the principal, interest, and balance) for this range.

Answer rating: 100% (QA)

a Monthly repayment calculation Principal amount 14000 Interest rate per year 10 Term in months 360 To calculate the monthly repayment we can use the ... View the full answer