Ask your own question, for FREE!
Finance 11 Online
OpenStudy (anonymous):

What monthly payment is required to amortize a loan of $30,000 over 10 yr if interest at the rate of 12%/year is charged on the unpaid balance and interest calculations are made at the end of each month?

OpenStudy (anonymous):

30000/5.650=5309.73 yearly 5309.73/12=442.48 per month

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!