Solved: Consider a 21 28127loan for 7 years at 8 interest, Mathematics

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Consider a 21 28127loan for 7 years at 8 interest

Consider a $21, 281.27loan for 7 years at 8% interest compounded quarterly and a payment of $1000 per quarter-year.

(A) Compute the unpaid balance after 5 years.

(B) How much interest is paid during the fifth year?

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Mathematics: Consider a 21 28127loan for 7 years at 8 interest

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Mathematics: Consider a 21 28127loan for 7 years at 8 interest

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