How much principal will be paid subtracted from the balance, Ask an Expert

Economics

How much principal will be paid (subtracted from the balance) and interest will be paid in each payment on a $10,000 loan with a 6 year term at 5% yearly interest? Assume yearly payments. Build a table showing year, interest due, total owed, payment, and balance.

Please be specific on how much the monthly payment is.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91367096

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