Given the following partial amortization table for a level pay loan:TimeK(t)I(t)PR(t)OB(t) 0 1 7,250.96 4,745.19 23,568.63 2 3 4 5 What is OB(2)a. $22,452.26.b. $19,323.67.c. $20,427.88.d. $23,556.47.e. $18,403.49.

To calculate the outstanding balance OB(2) after payment 2, let's break down the amortization table…

Answered: Given the following partial…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: The Basic Tools Of Finance

Section: Chapter Questions

Problem 1CQQ

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Time	K(t)	PR(t)	OB(t)
0
1	7,250.96	4,745.19	23,568.63
2
3
4
5

Given the following partial amortization table for a level pay loan: Time K(t) I(t) PR(t) OB(t) 0 1 7,250.96 4,745.19 23,568.63 2 3 4 5 What is OB(2) a. $22,452.26. b. $19,323.67. c. $20,427.88. d. $23,556.47. e. $18,403.49.