Problemloan 2500000 rate 59 for 6 yearsa what is the, Ask an Expert

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Problem

Loan: $25,000.00 Rate: 5.9% for 6 Years

a) What is the monthly payment amount?

b) How much interest expense would be included in your first payment?

c) How much interest expense would be included in your last payment?

d) How much interest would you pay in total over the term of the loan?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92746991

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