Find the amount applied to principle for the third month of a 4-year loan of $22...

Question

Question

Find the amount applied to principle for the third month of a 4-year loan of

$22 comma 00022,000

which charges

3.93.9

percent compounded monthly with monthly payments.

business finance

Answer 1

Answer #1

Function Arguments ? X PPMT 1 = 0.00325 Rate 3.9%/12 Per 3 Nper 48 Pv-22000 Fv d. 1 1 = 48 = -22000 = 427.017481 Returns the

Hence, Principal in third month is $427.02

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Answer 2

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Find the amount applied to principle for the third month of a​ 4-year loan of ​$22...