Itachishoidn
Answered

Get expert insights and reliable answers to your questions on IDNLearn.com. Join our knowledgeable community and get detailed, reliable answers to all your questions.

PLEASE EXPLAIN ME THIS. IM BEGGING U

A retailer obtains a bank loan of € 83,300, with an interest rate 4.5%, to be repaid after 150 days.

> Calculate the interest due on expiry of the loan.

​

Sagot :

Answer:

Step-by-step explanation:

Calculation

Divide your interest rate by the number of payments you'll make that year. ...

Multiply that number by your remaining loan balance to find out how much you'll pay in interest that month. ...

Subtract that interest from your fixed monthly payment to see how much in principal you will pay in the first month.

We appreciate your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. IDNLearn.com is committed to providing the best answers. Thank you for visiting, and see you next time for more solutions.