Mathematics, 29.11.2021 06:30, erenackermanlevijaeg
Find the Interest, Principal reduction, and Balance of loan of payment 2 from a $20 000 loan, interest rate is 6.0% per annum compounding quarterly, and you have quarterly repayments of $500 towards the loan.
Payment #0
Payment Amount: 0
Interest: 0
Principal reduction: 0
Balance of loan: 20000
Payment #1
Payment Amount: 500
Interest: 300
Principal reduction: 200
Balance of loan: 19800
Payment #2
Payment Amount: 500
Interest: ?
Principal reduction: ?
Balance of loan: ?
Answers: 3
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Find the Interest, Principal reduction, and Balance of loan of payment 2 from a $20 000 loan, intere...
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