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Home Q & A Board Science-Related Homework Help Mathematics
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Nursesn Nursesn
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10 months ago
A $28,000 loan at 8% compounded quarterly is to be repaid by equal quarterly payments over a seven-year term.


a) What will be the principal component of the sixth payment?
b) What will be the interest portion of the 22nd payment?
c) How much will the loan's balance be reduced by Payments 10 to 15 inclusive?
d) How much interest will be paid in the second year?
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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stanka82stanka82
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10 months ago
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Nursesn Author
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10 months ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Goku935
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Yesterday
Thanks
sudenzia
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2 hours ago
Thanks for your help!!
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