Answer To:
Shakeel answered on Nov 04 2021
Part A
1 Rate of interest 9% 2 Rate of interest 8%
Investment $262,000.00 Investment $32,000.00
Number of years The beginning 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...