You are given the following information about two different loans A loan of $ A is taken out today at j 4 6 , repaid over n years with quarterly payments of $2793 28 The total amount of principal repaid in the first 5 years (first 20 payments) is $26,436 83 What is A (4 marks) A loan of $ P is taken out today at j 12 , to be repaid over n months with monthly payments You are given the following information the principal repaid in the 32 nd payment is $343 79, the principal repaid in the 41 st payment is $376 00 and the outstanding balance after n 1 monthly payments have been made is $576 77 What is the value of P

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Question: You are given the following information about two different loans: A loan of $ A is taken out today at j 4 = 6%, repaid

You are given the following information about two different loans:

A loan of $A is taken out today at j₄ = 6%, repaid over n-years with quarterly payments of $2793.28. The total amount of principal repaid in the first 5 years (first 20 payments) is $26,436.83. What is A? (4 marks)

A loan of $P is taken out today at j₁₂, to be repaid over n-months with monthly payments. You are given the following information: the principal repaid in the 32^nd payment is $343.79, the principal repaid in the 41^st payment is $376.00 and the outstanding balance after n 1 monthly payments have been made is $576.77. What is the value of P?

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