STUDENT'S NAME: Yien San Wong MODULE 1 HOMEWORK Question 2 You just took a $10,000, 5-year loan.
Question 2Cost10000Payment$2,983.16 Interest0.15Division of payment betweenYearInterestPrincipal110,000.002,983.161,500.001,483.1628,516.842,983.161,277.531,705.6336,811.222,983.161,021.681,961.4744,849.742,983.16727.462,255.6952,594.052,983.16389.112,594.0560.00STUDENT'S NAME: Yien San WongYou just took a $10,000, 5-year loan. Payments at the end of each year are flat (equal in every year) at an interest rate of 15%. Calculate the appropriate loan table, showing the breakdown in each year between principal and interest.
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Question 2Cost10000Payment$2,983.16 Interest0.15Division of payment betweenYearInterestPrincipal110,000.002,983.161,500.001,483.1628,516.842,983.161,277.531,705.6336,811.222,983.161,021.681,961.4744,849.742,983.16727.462,255.6952,594.052,983.16389.112,594.0560.00STUDENT'S NAME: Yien San WongYou just took a $10,000, 5-year loan. Payments at the end of each year are flat (equal in every year) at an interest rate of 15%. Calculate the appropriate loan table, showing the breakdown in each year between principal and interest.
