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complex amortization
Problem: 5 loan amounts, each different, with varying interest rates,
payments, and loan periods. The loan periods are epressed in decimals of a year, not full years. I need to determine the total amortization if, as the highest interest loan is paid off, the payment for that loan is applied to the next highest interest rate loan, continuing until the final loan is paid off. This boggles my mind! |
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