Janine borrowed $30,000 from her bank. Monthly payments are $730, including interest at 6.3% compounded quarterly. a.
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Janine borrowed $30,000 from her bank. Monthly payments are $730, including interest at 6.3% compounded quarterly. |
| a. | How many payments will Janine make altogether? (Do not round intermediate calculations and round your answer up to the next whole number.) |
| No. of payments |
| b. | How much is the last payment? (Do not round intermediate calculations and round your answer to 2 decimal places.) |
| Last payment | $ |
| c. | How much interest will Janine pay over the life of the loan? (Do not round intermediate calculations and round your answer to 2 decimal places.) |
| Total interest | $ |
Expert Answer:
Related Book For 
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
