I will give like a ton of points if you answer this correctly!
1 answer:
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Step-by-step explanation:
So, the account is at 0 initially; after the 1st payment made to the statement, the only balance it'd have, is the first payment amount, so namely, what's the monthly amortized cost.
Ex.: the picture
So let's do the same!
<em>pymt:</em> 120,000 [0.049/12/1 - (1 + 0.049/12) -12 x 20]
Hope this helped!
