MMS Corp borrows $1,650,000 today for a new building. The loan is an equal principal payment loan with an APR of 6.5% compounded monthly. Payments are due monthly and the term of the loan is 9 years....


MMS Corp borrows $1,650,000 today for a new building. The loan is an equal principal payment loan with an APR of 6.5% compounded monthly. Payments are due monthly and the term of the loan is 9 years.


The interest component of the payment due in month 16 is?



Jun 04, 2022
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