Friday
August 1, 2014

Homework Help: Mathematics

Posted by Gibbons on Tuesday, June 22, 2010 at 2:33am.

A loan of $7,000,000 is being amortised over 48 months at an interest rate of 12% compounded monthly. Find:
(a) the monthly payment;
(b) the principal outstanding at the beginning of the 36th month;
(c) the interest in the 36th payment;
(d) the principal in the 36th payment and
(e) the total interest paid.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Mathematics - A loan of $7,000,000 is being amortised over 48 months at an ...
calculus - the monthly payment that amortizes a loan of A dollars in t yr when ...
Maths Check - Can Please someone check as per below I posted this yesterday and ...
Maths - Amortization of a $1000 Loan Interest Monthly payment rate 15yr 20yr ...
mathematics - The monthly loan payment was calculated at 119 payments of $330.38...
financial management - suppose you purchase a home for $150,000.and obtain a 90...
personal finance - what is the monthly payment on a 69,000 loan with a 12% ...
Algebra: Statistics - Five years ago, you bought a house for $151,000, with a ...
uno - You decide to borrow $200,000 to build a new house. The bank charges an ...
fianance - 3. You decide to borrow $200,000 to build a new house. The bank ...

Search
Members