Question
2. A 10-year loan of $10,000 is made at i = 0.04, and is to be repaid by $1,000 at the end of each
2. A 10-year loan of $10,000 is made at i = 0.04, and is to be repaid by $1,000 at the end of each year plus a final principal payment of $K at the end of the tenth year. Find K.
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Financial Accounting
Authors: Warren, Reeve, Duchac
12th Edition
978-1133952428
