SOLUTION: A loan of $ 10,000 is amortized by equal annual payments for 30
years at an effective annual interest rate of 5 %. Determine the
year in which the interest portion of the payment
Algebra.Com
Question 1206611: A loan of $ 10,000 is amortized by equal annual payments for 30
years at an effective annual interest rate of 5 %. Determine the
year in which the interest portion of the payment is most nearly
equal to one-half of the payment.
Answer by ikleyn(52798) (Show Source): You can put this solution on YOUR website!
.
a TWIN problem is just solved under this link
https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1206656.html
Consider it as your TEMPLATE and solve this current problem in the same way.
RELATED QUESTIONS
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by ikleyn)
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by Theo)
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by ikleyn)
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by ikleyn)
A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by ikleyn)
Q;A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective... (answered by Theo)
Please help me with this
A loan of $ 10,000 is amortized by equal annual payments for... (answered by ikleyn)
A loan of $10000 is amortized by equal annual payments for 30 years at an effective... (answered by ikleyn)
Mr. Y is borrowing €5,000 at a compound annual interest rate of 6%. Amortize the loan... (answered by Theo)