Question: Problem #5: Suppose a loan which accumulates interest at a nominal annual rate of 4.02% compounded monthly is repaid [6 marks] through level monthly payments

Problem #5: Suppose a loan which accumulates interest at a nominal

Problem #5: Suppose a loan which accumulates interest at a nominal annual rate of 4.02% compounded monthly is repaid [6 marks] through level monthly payments of $2395 over a period of 10 years. Determine the following: . (a) The outstanding balance at the end of period 46. (b) The amount of principal repaid during period 75. (A) 156821.29 (B) 156793.94 (C) 156711.89 (D) 156766.59 (E) 156739.24 Problem #5(a): Select V 1 Part (a) choices. (A) 2046.35 (B) 2053.49 (C) 2057.06 (D) 2060.63 (E) 2049.92 Problem #5(b): Select 1 Part (b) choices. Save

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