Answered

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Consider a loan of $5.2 million that is paid quarterly over a period of 15 years. Calculate the dollar amount of interest and loan principal repaid corresponding to each payment if the interest rate is 11% per year, compounded quarterly. What is the 5th Quarter Interest and also the 5th Quarter Principal Repayment respectively.
a. $97,158.12 and $95,032.24
b. $138,994.66 and $38,949.43
c. $142,039.04 and $36,892.44
d. $52,601.74 and $42,841.70

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