Three years ago you took out a 30-year amortizing loan the, Financial Management

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Three years ago you took out a 30-year amortizing loan the

Three years ago you took out a 30-year amortizing loan. The loan has a 6% APR with monthly payments (and monthly compounding).

a) What are your monthly payments if your current loan balance is $368; 600?

b) How much interest did you pay on the loan in the past year?

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Financial Management: Three years ago you took out a 30-year amortizing loan the

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Financial Management: Three years ago you took out a 30-year amortizing loan the

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