Monthly payments are to be made against an $850,000 loan at 7 25 compounded annually with a 15 year amortization a) What is the size of the monthly payment b) Calculate the principal portion of the 50th payment c) Calculate the interest portion of the 100th payment d) Calculate how much the princip...

principal amount P 850000 Interest rate 7 25 Time period 15 years or 180 m ...

Monthly payments are to be made against an $850,000 loan at 7.25% compounded annually with a 15-year

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Monthly payments are to be made against an $850,000 loan at 7.25% compounded annually with a 15-year amortization.

a) What is the size of the monthly payment?
b) Calculate the principal portion of the 50th payment.
c) Calculate the interest portion of the 100th payment.
d) Calculate how much the principal will be reduced in the third year.
e) Calculate the total interest paid in the second year.

Related Book For answer-question

Computer Networking A Top-Down Approach

ISBN: 978-0136079675

5th edition

Authors: James F. Kurose, Keith W. Ross

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Posted Date: Dec 10, 2020 04:50 AM

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Computer Networking A Top-Down Approach

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