Reducing-Balance Loans - Questions

Question 1

The table above shows the monthly repayments for an investment loan at an interest rate of 8% p.a. reducible. Tony applied for a loan of $125,000 over 10 years. What would be the interest paid on this loan?

A

\(\$ 58,310\)

B

\(\$ 48,240\)

C

\(\$ 57,280\)

D

\(\$ 61,210\)

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