Jack and Jill borrow $90,000 at 9% amortized over 10 years to drill a well and renovate their kitchen and bathrooms. Assuming that the monthly principal and interest payments are made as agreed, what is the loan balance at the end of 5 years? (Round to nearest penny and enter, for example, as 123456.78)

Answer rating: 100% (QA)

To calculate the loan balance at the end of 5 years we can use the following form... View the full answer