Determine the amount of principal


A borrower is repaying the loan with payments of $5000 at the end of each year over unknown period of time. If the amount of interest in the third installment is $4000, determine the amount of principal in the sixth installment. The nominal rate of interest is i(12) = 0.06.

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Financial Management: Determine the amount of principal
Reference No:- TGS0875136

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