1. If $19,000 is borrowed at 12% interest to be paid back over ten years, how much of the six-year's payment is interest (assume annual loan payments)? A. $1,026. B. $1,160. C. $1,327. D. $1,454. CIRCLE THE CLOSEST ANSWER.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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1. If $19,000 is borrowed at 12% interest to be paid back over ten years,

how much of the six-year's payment is interest (assume annual loan payments)?

A. $1,026.

B. $1,160.

C. $1,327.

D. $1,454.

CIRCLE THE CLOSEST ANSWER.

 

2. If $19,000 is borrowed at 12% interest to be paid

back over ten years, what is the balance of the loan just after

the six year's payment is made?

A. $10,213.

B. $10,604.

C. $10,806.

D. $11,316.

CIRCLE THE CLOSEST ANSWER.

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