Loan Of 40 000 I Nominal Rate Per Annum 12 0096 Witt The Def Month 1 0096 It Wee

/in /by

Refer to the above screenshot.

To calculate the total interest paid on the loan from period 0 to period 5, we could use the formula:

Select one:

a. =-CUMIPMT((rate,nper,pv,start_period,end_period,type)

b. =CUMINT (rate,nper,pv,start_period,end_period,type)

c. =IPMT((rate,nper,pv,start_period,end_period,type)

d. =B7-(5*B8)

Loan of $40,000I. nominal rate per annum12.0096WITT, THE DEF Month1.0096IT (WEEKS5.0L4LIL12I’m. number of monthly repayments60.00ILoan540.000End of month reDEVITTEr!5089. 7810Total Interest paid between Denied O and period’ 5

 
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