William borrows $22,000 to buy a car. He will repay the loan through 4 years of equal monthly payments and an annualized interest rate of 4.3%, Think about payment #32 of the loan obligation. How much of this payment will be principal? Enter your answer as a positive number (in dollars), and round to the nearest dollar.

William borrows $22,000 to buy a car. He will repay the loan through 4 years of equal monthly payments and an annualized interest rate of 4.3%, Think about payment #32 of the loan obligation. How much of this payment will be principal? Enter your answer as a positive number (in dollars), and round to the nearest dollar.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

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kindly answer in good form
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