Answered Same DayNov 04, 2021

Answer To:

Shakeel answered on Nov 04 2021
151 Votes
Part A
    1    Rate of interest        9%            2    Rate of interest        8%
        Investment        $262,000.00                Investment        $32,000.00
        Number of years    The beginnin
g balance each year    The interest earned each year    The ending balance each year            Number of years    The beginning balance each year    The interest earned each year    The ending balance each year
        1    $262,000.00    $23,580.00    $285,580.00            1    $32,000.00    $2,560.00    $34,560.00
        2    $285,580.00    $25,702.20    $311,282.20            2    $34,560.00    $2,764.80    $37,324.80
        3    $311,282.20    $28,015.40    $339,297.60            3    $37,324.80    $2,985.98    $40,310.78
        4    $339,297.60    $30,536.78    $369,834.38            4    $40,310.78    $3,224.86    $43,535.65
        5    $369,834.38    $33,285.09    $403,119.48            5    $43,535.65    $3,482.85    $47,018.50
        6    $403,119.48    $36,280.75    $439,400.23            6    $47,018.50    $3,761.48    $50,779.98
        7    $439,400.23    $39,546.02    $478,946.25            7    $50,779.98    $4,062.40    $54,842.38
        8    $478,946.25    $43,105.16    $522,051.41            8    $54,842.38    $4,387.39    $59,229.77
        9    $522,051.41    $46,984.63    $569,036.04            9    $59,229.77    $4,738.38    $63,968.15
        10    $569,036.04    $51,213.24    $620,249.28            10    $63,968.15    $5,117.45    $69,085.60
Part B
        Loan amount        $41,000.00
        Interest rate        6%
        Monthly interest rate        0.50%
        No of terms in month        60
        Payment each month        $792.64
        Month    The beginning loan balance    The payment each month    The amount of interest in each monthly payment    The amount of principal in each monthly payment    The ending balance each...
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