4-69. A company borrowed $120,000 at an interest rate of 9% to be repaid over a period...

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4-69. A company borrowed $120,000 at an interest rate of 9% to be repaid over a period of six years. The loan will be repaid in installments according to the cash-flow diagram shown below (which also reflects the cash inflow of $120,000). What is the size of the last payment (X) required to pay off the loan? (4.10)

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Engineering Economy

ISBN: 9780134870069

17th Edition

Authors: William Sullivan, Elin Wicks, C Koelling

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