Question: show me the way, by hand work , would be much appreciated and would help me understand. Suppose that a loan is being repaid with

show me the way, by hand work , would be much

show me the way, by hand work , would be much appreciated and would help me understand.

Suppose that a loan is being repaid with 60 equal monthly payments, the first coming a month after the loan is made. If the rate of interest is 7.7 percent convertible monthly, and the amount of principal in the 22 nd payment is 280 , how much interest is in the 44 th payment? Answer = dollars

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