Thursday
July 24, 2014

Homework Help: college math

Posted by sasha on Friday, November 2, 2012 at 1:11pm.

A $8700 personal loan at 5.5% compounded monthly is to be repaid over a 4 year term by equal monthly payments.
a) calculate the interest and principle component of the 18th payment
b) how much interest will be paid in the third year of the loan?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

college math - A $8700 personal loan at 5.5% compounded monthly is to be repaid ...
college math - a math student borrowed $9300.00 from his local bank at 7% ...
Amoritizing Loans - "A woman borrows $6000 at 9% compounded monthly, which is to...
math formulas - 4. Vanna has just financed the purchase of a home for $200 000. ...
Math - Richard borrowed 180000 dollars from his bank to help finance the ...
Geometric Prorgession - A bank loan of $500 is arranged to be repaid in two ...
Math - 4. Vanna has just financed the purchase of a home for $200 000. She ...
Finance - Dave takes out a 30-year mortgage of 200000 dollars for his new house...
Seneca - Henrietta went to a bank and obtained a personal loan with an interest ...
finance - I am borrowing $10,000 for 5 years at 9%. payments, which are made on ...

Search
Members