Using IOS Debt Break and/or Android’s similar application or Excel find out the following: Total...

Using IOS Debt Break and/or Android’s similar application or Excel find out the following:
      Total Interest $
      Total Payment $
      Date when the loan is fully paid, month/year
      Number of months needed to have the loan fully paid, count
Use the following data:
      Name of the debt: ROMI
      Starting balance: $5000
      Remaining balance: $5000
      Interest Rate: 5%
      Montlhy payment: $200
      First Payment: Apr. 20, 2020

Solutions

Expert Solution

Total Interest $ 267.9267

Total Payment $ 5267.9267

Date when the loan is fully paid, month/year - June 2022

Number of months needed to have the loan fully paid, count - 27

jeff jeffy answered 1 year ago

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