How much interest expense would be included in first payment

Assignment Help Accounting Basics

Reference no: EM131908322

Problem

Loan: $25,000.00 Rate: 5.9% for 6 Years

a) What is the monthly payment amount?

b) How much interest expense would be included in your first payment?

c) How much interest expense would be included in your last payment?

d) How much interest would you pay in total over the term of the loan?

Reference no: EM131908322

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