What Is the Outstanding Balance After the 23rd Payment Interval

question 50

Multiple Choice

What is the outstanding balance after the 23rd payment interval of a 16-year loan for $14 734 with semi-annual payments and an interest rate of 5.95% compounded quarterly?

• A) $5625.21
• B) $5652.21
• C) $5562.21
• D) $5526.21
• E) $5566.21

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Definitions:

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An evaluation or analysis conducted to compare or distinguish differences or similarities among subjects at different times or conditions.