Mathematics Homework Help
Mathematics Homework Help. PV, FV, PMT, rate, term, due, deferred, perpetuity
2.) A debt of $36,000 is repaid over 12 years with payments occurring monthly. Interest is 10% compounded annually.
(a) What is the size of the periodic payment?
(b) What is the outstanding principal after payment 21?
(c) What is the interest paid on payment 22?
(d) How much principal is repaid in payment 22?
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