Amount of interest paid, Amount of 'Interest paid' during

Amount of interest paid

Assignment Help Financial Management

Reference no: EM131943579

Consider the following: Financed amount: $385,000 Cost of funds: 7.25% (interest rate) 30-year amortization Calculate (round to nearest dollar): Annual payment amount (this is monthly payment x 12 --- then rounded to nearest dollar) Amount of 'Interest paid' during year 3 (rounded to nearest dollar) Amount of 'Principal paid' during year 3 (rounded to nearest dollar)

Reference no: EM131943579

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