Piotr takes out a loan for $3,159.00. The term of the loan is 10 years, and he will make monthly payments. The interest rate onthe loan is 7.775% compounded bi-weekly.a) What is the effective interest rate per payment period?b) If Piotr is going to repay the loan with level payments, what is the monthly payment amount?C) Fill in the first 3 rows of the loan amortization table.

Loan are to be paid by the installments which include interest and principal payments.

Piotr takes out a loan for $3,159.00. The term of the loan is 10 yea is 7.775% compounded bi-weekly. is the effective interest rate per payment period? r is going to repay the loan with level payments, what is the monthly the first 3 rows of the loan amortization table.

Piotr takes out a loan for $3,159.00. The term of the loan is 10 yea is 7.775% compounded bi-weekly. is the effective interest rate per payment period? r is going to repay the loan with level payments, what is the monthly the first 3 rows of the loan amortization table.

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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