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How much of the second loan payment is interest

wesson metals has an outstanding loan that calls for equal annual payments of $9,768.46 over the life of the loan. the original loan amount was $50,000 at an apr of 8.5 percent. how much of the second loan payment is interest?

a.$3,525.61

b.$3,780.93

c.$4,250.00

d.$5,409.16

e.$5,987.53

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Solution Preview :

Prepared by a verified Expert

Finance Basics: How much of the second loan payment is interest

Reference No:- TGS0680492

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Solution Preview :

Prepared by a verified Expert

Finance Basics: How much of the second loan payment is interest

Reference No:- TGS0680492

Recent Questions Asked Finance Basics

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Q : How can you justify this apparent inconsistency

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