The third file is for a client named Alexei. Alexei took out a personal loan...
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Finance
The third file is for a client named Alexei. Alexei took out a personal loan exactly one year ago with Harrison Bank. From his file, you have noted the following information: Original loan amount: $57,000 Current loan outstanding: $52090.77 Monthly repayment: $820 Next repayment: Due exactly 1 month from now Interest rate on loan:12=9% For the purposes of the remaining questions, use the rounded values given above.
Using this information, determine the following: How much principal has Alexei repaid over the last year?
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