You went into your local credit union to secure a loan. You needed $15,000 and since you just started teaching, you did not want payments during the summer months. Your loan will be $15,000 paid over two years starting in January omitting the months of June, July and August each year of the loan . What will be the monthly payments if the loan rate is 6% per year?© BrainMass Inc. brainmass.com June 4, 2020, 3:11 am ad1c9bdddf
An amortization table is created for your in Excel showing the analysis. ...
One strategy is revealed for you. There are others but this is an example of one.