Problem:
For the loan below, calculate principal interest portion of the payment listed in the last column.
|
Original
|
Amortization period
|
Payment interval
|
Nominal rate (%)
|
Principal/Interest portion of
|
|
Principal ($)
|
(years)
|
monthly
|
12% compounded monthly
|
Payment #
|
|
30,000
|
10
|
|
|
99
|
Additional Information:
This question is basically belongs to the Finance as well as it explains about computing principal interest portion for payment of loan.