For Question 9, calculate the principal repaid in the fourth payment period. Verify your answer by checking the amortization schedule.
In Question 9
Hansco borrowed $9200 paying interest at 11% compounded annually. If the loan is repaid by payments of $2000 made at the end of each year, construct an amortization schedule showing the total paid and the total interest paid.
This question was answered on: Jul 11, 2017
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