A debt of $25,000 is to be amortized by making payments of $1,500 at the end...

A debt of $25,000 is to be amortized by making payments of $1,500 at the end of each month. The interest rate is 12% compounded monthly.

A) What is the outstanding principal after the 12th payment?

B) What is the size of the final payment?

Expert Solution

ekkarill92 answered 2 years ago

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