Annuity Value. You just borrowed $100,000 to buy a condo. You will repay the loan in equal
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Annuity Value. You just borrowed $100,000 to buy a condo. You will repay the loan in equal monthly payments of $804.62 over the next 30 years. What monthly interest rate are you paying on the loan? What is the effective annual rate on that loan? What rate is the lender more likely to quote on the loan?
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Related Book For 
Study Guide To Accompany Fundamentals Of Corporate Finance
ISBN: 9780073012421
5th Edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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