How soon would the loan be paid off if the borrower made a single additional payment of

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How soon would the loan be paid off if the borrower made a single additional payment of $33,000 to reduce principal at the end of the fifth year?

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Practical Financial Management

ISBN: 978-1133593683

7th edition

Authors: William R. Lasher

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Question Posted: May 14, 2015 11:09 AM

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How soon would the loan be paid off if the borrower made a single additional payment of

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First calculate balance after 5 years 36060 300 PVA PMT PVFA 5300 PVA 89932 155207 ...View the full answer

Practical Financial Management

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