Question: trying to figure out the right answer with steps please. Problem 6-4 Calculating lnstalment Loan Payments, Interest, and Principal [L02] 3. If Dave had borrowed

trying to figure out the right answer with steps please.

trying to figure out the right answer with steps please. Problem 6-4

Problem 6-4 Calculating lnstalment Loan Payments, Interest, and Principal [L02] 3. If Dave had borrowed $330 for one year at an APR of 4 percent, compounded monthly, what would have been his monthly loan payment? Use Exhibit 'iB-4. {Do not round your intermediate calculations. Round your final answer to 2 decimal places. Omit the '3\" sign in your response.) Pm 9.: b. What would have been the breakdown between interest and principal of the fth payment? Use Exhibit 13-4. {Do not round your intermediate calculations. Round your final answers to 2 decimal places. Omit the "$' sign in your response.) Interest: 5 Principal 5

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