A company borrows $100,000 with interest at j₁₂ = 9%.The loan is to be amortized by monthly payments of $1550 for as long as necessary.A final smaller payment will be calculated so the loan will be exactly repaid.What is the amount of interest paid in the 2^nd monthly payment of $1550?

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The Answer of A company borrows $100,000 with interest at j₁₂ = 9%.The loan is to be amortized by monthly payments of $1550 for as long as necessary.A final smaller payment will be calculated so the loan will be exactly repaid.What is the amount of interest paid in the 2^nd monthly payment of $1550?

A Company Borrows $100,000 with Interest at J12 = 9

A Company Borrows $100,000 with Interest at J₁₂ = 9