Business, 29.07.2020 04:01 j1theking18

A $200,000 loan amortized over 12 years at an interest rate of 10% per year requires payments of $21,215.85 to completely remove the loan when interest is charged on the unrecovered balance of the principal. If interest is charged on the original principal instead of the unrecovered balance, what is the loan balance after 12 years provided the same $21,215.85 payments are made each year?

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A $200,000 loan amortized over 12 years at an interest rate of 10% per year requires payments of $21...

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