A loan of $39 999.75 Is to be repaid by payments at the end of each quarter for eight years. Each payment Is 2% higher than Its predecessor. The loan Is made at a nominal rate of discount of 4% payable quarterly Find the balance Just after he 20th payment, the amount of Interest In the twentieth payment, and the amount of principal In the twentieth payment. (Round your answers to the nearest cent.) balance after 20th payment amount of Interest In 20th payment $ amount of principal in 20th payment $
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A loan of $13 500 is made at an effective interest rate of 9 5%. Payments are made at the end of each Interest period. Each payment equals twice the Interest due until the borrower pays off the outstanding debt with a Anal payment of, at most, $1,800. Find the number of payments n. (Enter your answer as an Integer.) n ■ 22 X payments
Find the amount of the Anal payment. (Round your answer to the nearest cent.) $ 1501.79 X
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