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In: Finance
A loan is to be repaid over 30 years, with month-end repayments of 9,000. If the...
A loan is to be repaid over 30 years, with month-end repayments of 9,000. If the interest rate is 7.0% p.a. compounded monthly. Calculate the interest paid for year 10. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
Solutions
Expert Solution
From the above we can say that interest at
10the year that is at 120 th month is 6784.505
jeff jeffy answered 1 year agoRelated Solutions
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there are 11 repayments in total. The first of the level repayments
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