The principal portion of the 20th payment of $R on an amortized loan is $340.95 and the principal portion of the 21st payment of $R is $348.11.If there are 55 payments in total,what is R?
A) $647.25
B) $659.69
C) $702.43
D) $720.47
Correct Answer:
Verified
Q5: A loan is being repaid over 8
Q6: The interest portion of the 10th payment
Q7: A loan at j4 = 8.6% is
Q8: A loan is amortized at j2 =
Q9: Bill takes out a loan at j4
Q11: A loan of $A is taken out
Q12: A loan of size A is to
Q13: Exactly five years ago,a $100,000 condominium was
Q14: A loan is being amortized over n-years
Q15: A $200,000 home is financed by paying
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents