Far East Imports Inc.owes $64 000.00 to be repaid by monthly payments of $2475.00.Interest is 6.12% compounded monthly.
a)How many payments will Far East Imports Inc.have to make?
b)How much interest is included in the 15^th payment?
c)How much of the principal will be repaid by the 17^th payment?
d)Construct a partial amortization schedule showing details of the first three payments,the last three payments,and totals.

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The Answer of Far East Imports Inc.owes $64 000.00 to be repaid by monthly payments of $2475.00.Interest is 6.12% compounded monthly. a)How many payments will Far East Imports Inc.have to make? b)How much interest is included in the 15^th payment? c)How much of the principal will be repaid by the 17^th payment? d)Construct a partial amortization schedule showing details of the first three payments,the last three payments,and totals.