23. How soon would the loan in Problem 21 pay off if the borrower made a single...

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23. How soon would the loan in Problem 21 pay off if the borrower made a single additional payment of $17,936.29 to reduce principal at the end of the fifth year?

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Practical Financial Management

ISBN: 9780324422634

5th Edition

Authors: William R. Lasher

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Question Posted: Oct 17, 2024 08:03 AM

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23. How soon would the loan in Problem 21 pay off if the borrower made a single additional payment of $17,936.29 to reduce principal at the end of the fifth year?
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22. Construct an amortization schedule for the last six months of the loan in Problem 21. (Hint: What is the unpaid balance at the end of 291/2 years?)
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23. How soon would the loan in Problem 21 pay off if the borrower made a single...

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Practical Financial Management

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