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Business, 18.03.2021 01:50 alina1939

Two loans for equal amounts are amortized at 4% interest. Loan L is to be repaid by 30 equal annual payments. Loan N is to be repaid by 30 annual payments. Each payment has equal principal repaid amounts. Also, the interest portion of each payment is based upon the outstanding balance. The payment for loan L first exceeds the payment for loan N at end of year t. Find t.

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Two loans for equal amounts are amortized at 4% interest. Loan L is to be repaid by 30 equal annual...
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