A loan is to be repaid over 30 years, with month-end repayments of 10,000. If the interest rate is 3.5% p.a. compounded monthly. Calculate the principal paid for year 10. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
4.A loan is to be repaid over 30 years, with month-end repayments of 5,000. If the interest rate is 4.1% p.a. compounded monthly. Calculate the interest paid for year 10. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
