Question
A $11,000 loan is to be repaid with 8 equal half-yearly instalments. Interest is at 7.4%p.a. compounding half-yearly Calculate the principal repaid in the fourth
A $11,000 loan is to be repaid with 8 equal half-yearly instalments. Interest is at 7.4%p.a. compounding half-yearly Calculate the principal repaid in the fourth instalment.
(use excel; answer to include cents but do not use the comma separator)
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
