assume a 5 year equal payment amortization, Macroeconomics

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assume a 5 year equal payment amortization

Assume a 5 year equal payment amortization schedule with an annual interest rate of 12% and annual payments. If the beginning is 8,000 then the first interest payment will be how large?

A. $960.00
B. Not enough information to answer this question
C. $2,219.28
D. $1,200.00

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Macroeconomics: assume a 5 year equal payment amortization

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Macroeconomics: assume a 5 year equal payment amortization

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