Locust Inc. owes$17,000.00to be repaid by monthly payments of$490.00.Interest is4%compounded monthly. (a) How many payments will Locust Inc. have to make? (b) How much interest is included in the 14th payment? (c) How much of the principal will be repaid in the 7th payment period? (d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals

Locust Inc. owes $17,000.00 to be repaid by monthly payments of $490.00. Interest is 4% compounded monthly. (a) How many payments will Locust Inc. have to make? (b) How much interest is included...

Locust Inc. owes

$17,000.00

to be repaid by monthly payments of

$490.00.

Interest is

4%

compounded monthly.

(a)	How many payments will Locust Inc. have to make?
(b)	How much interest is included in the 14th payment?
(c)	How much of the principal will be repaid in the 7th payment period?
(d)	Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals

Jun 04, 2022

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Locust Inc. owes ​$17,000.00 to be repaid by monthly payments of ​$490.00. Interest is 4​% compounded monthly. ​(a) How many payments will Locust Inc. have to​ make? ​(b) How much interest is included...

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Locust Inc. owes $17,000.00 to be repaid by monthly payments of $490.00. Interest is 4% compounded monthly. (a) How many payments will Locust Inc. have to make? (b) How much interest is included...