The loan is structured as an amortized loan

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Reference no: EM131604543

You borrowed ?$200,000 exactly 2 years ago. The loan is structured as an amortized loan. The interest rate is 7?% and you make quarterly? (end-of-quarter) payments of ?$4,249.76.

The loan is amortized over 25 years. How much principal have you paid over the first 2 ?years?

How much principal have you paid over the first 2? years?

If possible can you show the formula?

Reference no: EM131604543

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