Calculate amount of principal repaid in the first payment

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Reference no: EM131970820

a) A loan amortized over 3n yrs with annual payments=90 end-of-per year. After nth payment, OB-outstanding balance is 80% of the amount of the loan. Calculate its amount of principal repaid in the first payment??

b) What if its over 2n yrs and annual payment=90 end-of-per yr and OB=75% of amount of the loan. then which one of the following is its amount of principal repaid in the first payment?

Reference no: EM131970820

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