Question
13. The Happy Hang Glide Company is purchasing a building and has obtained a $190,000 mortgage loan for 20 years. The loan bears a compound
13. The Happy Hang Glide Company is purchasing a building and has obtained a $190,000 mortgage loan for 20 years. The loan bears a compound annual interest rate of 17 percent and calls for equal annual installment payments at the end of each of the 20 years. What is the amount of the annual payment?
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Public Finance
Authors: Charles Francis Bastable
1st Edition
1375520083, 978-1375520089
