Mathematics, 12.07.2019 18:20 foxesrcool11
the payment necessary to amortize a 5.6 % loan of $95,000 compounded annually commaannually, with 44 annual payments is 27,165.51.the total of the payments is 108,662.04with a total interest payment of 13,662.04.the borrower made larger payments of 28,000.00.calculate (a) the time needed to pay off the loan, (b) the total amount of the payments, and (c) the amount of interest saved.
a. the time needed to pay off the loan with payments of $28,000 is years.
b. the total amount of the payments is $
c. the amount of interest saved is $
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the payment necessary to amortize a 5.6 % loan of $95,000 compounded annually commaannually, with 44...
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