If the amount of interest in the third installment is 2000, Financial Management

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If the amount of interest in the third installment is 2000

A borrower is repaying a loan with payments of $3000 at the end of every year over an unknown period of time. If the amount of interest in the third installment is $2000, find the amount of principal in the sixth installment. Assume that interest is 10% convertible quarterly.

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Financial Management: If the amount of interest in the third installment is 2000

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Financial Management: If the amount of interest in the third installment is 2000

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