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4. A $600,000 CPM fully amortizing loan is made, at a 4% interest rate compounded monthly, for a 30 year term. Loan comes with a
4. A $600,000 CPM fully amortizing loan is made, at a 4% interest rate compounded monthly, for a 30 year term. Loan comes with a charge of 5 points. What is the effective annual rate on the loan?
*do work in EXCEL please*
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Promoting Microfinance Challenges And Innovations In Developing Countries And Countries In Transition
Authors: R. Manos , J. Gueyie, J. Yaron
1st Edition
