William borrows $22,000 to buy a car. He will repay the loan through 4 years of equal monthly payments and an annualized interest rate of 4.3%, Think about payment #32 of the loan obligation. How much of this payment will be principal? Enter your answer as a positive number (in dollars), and round to the nearest dollar.
William borrows $22,000 to buy a car. He will repay the loan through 4 years of equal monthly payments and an annualized interest rate of 4.3%, Think about payment #32 of the loan obligation. How much of this payment will be principal? Enter your answer as a positive number (in dollars), and round to the nearest dollar.
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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