Question
1. Your bank offers to lend you $100,000 at an 7% annual interest rate to start your new business. The terms require you to amortize
1. Your bank offers to lend you $100,000 at an 7% annual interest rate to start your new business. The terms require you to amortize the loan with 10 equal end-of-year payments. How much interest would you be paying in Year 1?
2. Your bank offers to lend you $100,000 at an 7% annual interest rate to start your new business. The terms require you to amortize the loan with 10 equal end-of-year payments. How much will your total payment be in Year 5?
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Advances In Financial Machine Learning
Authors: Marcos Lopez De Prado
1st Edition
1119482089, 978-1119482086
