Anonymous

Can You Figure Amortization On $6000 Loan At 7 Percent Interest For One Year?

2 Answers

jay jerome Profile
jay jerome answered


You will have 11 monthly payments of $519.16
Your 12th payment will be $519.17.

Your total payments are $6229.93

Your total interest is $229.93
Anonymous Profile
Anonymous answered
6 year, 6% stated interest rate per year. Will pay the entire 1,000,000 at the end of 6 years.
Interest expense, discount on note,

Answer Question

Anonymous