The document shows the calculation of outstanding balances with fixed interest over 12 periods and 6 periods. For a loan of $12,000 at 12% interest paid off over 12 periods, the borrower would make monthly payments of $1,000 in principal and interest ranging from $10 to $120. For the same loan paid off over 6 periods, the borrower would make bi-monthly payments of $2,000 in principal and interest ranging from $20 to $120.
The document shows the calculation of outstanding balances with fixed interest over 12 periods and 6 periods. For a loan of $12,000 at 12% interest paid off over 12 periods, the borrower would make monthly payments of $1,000 in principal and interest ranging from $10 to $120. For the same loan paid off over 6 periods, the borrower would make bi-monthly payments of $2,000 in principal and interest ranging from $20 to $120.
The document shows the calculation of outstanding balances with fixed interest over 12 periods and 6 periods. For a loan of $12,000 at 12% interest paid off over 12 periods, the borrower would make monthly payments of $1,000 in principal and interest ranging from $10 to $120. For the same loan paid off over 6 periods, the borrower would make bi-monthly payments of $2,000 in principal and interest ranging from $20 to $120.