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How much interest payment was paid

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In buying a set of household appliances costing 120,000. a family makes a down payment of 10,000 and there is an agreement to pay the balance in 18 monthly installments and interest is charged at 15.84% compounded monthly.

Problem a.) How much the total interest?

Problem b.) How much is the outstanding balance after the 6th periodic payment?

Problem c.) How much is the monthly installment?

Problem d.) How much interest payment was paid in the first 5 months?

Problem e.) How much is the principal repayment on the 10th month?

Reference no: EM132817443

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