A loan should be repaid over 8 years with 32 quarterly payments of $362.19 at j4 = 8%. Under the amortization method, what is the principal portion of the 3rd payment? A. $162.24 B. $158.24 C. $203.95 D. $199.95

A loan should be repaid over 8 years with 32 quarterly payments of $362.19 at j4 = 8%. Under the amortization method, what is the principal portion of the 3rd payment? A. $162.24 B. $158.24 C. $203.95 D. $199.95

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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