Question
1.$4,500 at 18% for 5 years True interest rate cost of this loan 28.88% or 29% a.Monthly payment be- $114.27 b.Amount of interest be- $2356.20
1.$4,500 at 18% for 5 years
True interest rate cost of this loan 28.88% or 29%
a.Monthly payment be- $114.27
b.Amount of interest be- $2356.20
Suppose that you are only allowed to make a balloon payment to the principal of the compound interest loan. You have $1,000 to put down at the beginning of year 3. How many payments will you save?
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The Changing Geography Of Banking And Finance
Authors: Pietro Alessandrini ,Michele Fratianni ,Alberto Zazzaro
1st Edition
1441947205, 978-1441947208
