Towards paying off principal

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Reference no: EM132070942

a) Mariah borrowed $50,000 for 30 years at 11.2 percent compounded semiannually. How much of payment 36 will go towards paying off principal?

$877.79

$745.42

$831.24

$787.16

b) Chris borrowed $52,000 for 25 years at 5.4 percent compounded monthly. What will the ending balance be after Chris has made one year of payments?

$51,074.87

$50,988.48

$50,901.70

Reference no: EM132070942

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