Question
A 15-year loan is amortized by payments of $1,000 made at the end of every month. If the interest rate is 4.00% compounded quarterly, what
A 15-year loan is amortized by payments of $1,000 made at the end of every month. If the interest rate is 4.00% compounded quarterly, what is the principal amount of the loan?
$83,321.66
$54,316.72
$135,313.67
$44,955.04
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Finance For Non Financial Managers
Authors: Pierre Bergeron
6th Edition
0176501630, 9780176501631
