Homework Answers
a)
The Loan Amount would be 200000-10% of 200000= 180000
b)
The Monthly EMI would be =[p*r*(1+r)^n]/[(1+r)^n-1]
=[$180000*.045/12*(1+.045/12)^360]/[(1+.045/12)^360-1]
=$912
c)
The total amount of interest paid during the term of the loan = $148332
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