Some lenders offer loans with biweekly payments rather than monthly payments. Investigate the effect of this on home loans by finding the payment and total interest on a thirty-year simple interest amortized loan of $100,000 at 13% interest. (Round your answers to the nearest cent.) (a) if payments are made monthly.. what is the 1. payment 2. total interest (b) if payments are made biweekly 1. payment 2. total interest
Some lenders offer loans with biweekly payments rather than monthly payments. Investigate the effect of this on home loans by finding the payment and total interest on a thirty-year simple interest amortized loan of $100,000 at 13% interest. (Round your answers to the nearest cent.) (a) if payments are made monthly.. what is the 1. payment 2. total interest (b) if payments are made biweekly 1. payment 2. total interest
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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Some lenders offer loans with biweekly payments rather than monthly payments. Investigate the effect of this on home loans by finding the payment and total interest on a thirty-year simple interest amortized loan of $100,000 at 13% interest. (Round your answers to the nearest cent.)
(a) if payments are made monthly.. what is the
1. payment
2. total interest
(b) if payments are made biweekly
1. payment
2. total interest
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