Problem

On a level-payment loan with 12 years (144 payments) remaining, at an interest rate of 9 p...

On a level-payment loan with 12 years (144 payments) remaining, at an interest rate of 9 percent, and with a payment of $1,000, the balance is:

a. $144,000.


b. $100,000.


c. $87,871.


d. $76,137.

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Solutions For Problems in Chapter 15