Question
A 20 year loan of $100, 000 at i = 6% is paid off by paying 125% of each years interest at the end of
A 20 year loan of $100, 000 at i = 6% is paid off by paying 125% of each years interest at the end of each year for the first 12 years, and then for the next 8 years pay off the loan by paying off constant principle at the end of each year. Find the value of the last payment. (non-excel please :) )
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Financial Management Theory And Practice
Authors: Eugene F Brigham, Michael C Ehrhardt
11th Edition
0324259689, 9780324259681
