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A loan is to be repaid with a series of decreasing annuial payments made at the end of each year over a 30 year period, the annual effective rate of the loan is 7.2% the first payment made is $12,000, the second payment is $11,700 and the third payment is $11,400 the last payment is $3300 a)find the balance after the 9th payment b)find the balance after the 10th payment c)find the amount off principle pain in the 10th payment. d)find the amount of interest paid in the 10th payment

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Financial Management, Finance

Category:- Financial Management
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