Question
A $2,000 loan is being repaid by payments of $100 at the end of each month for as long as necessary, plus a smaller final
A $2,000 loan is being repaid by payments of $100 at the end of each month for as long as necessary, plus a smaller final payment. If the nominal rate of interest convertible monthly is 12%, find the outstanding balance at the end of 1 year. (A) 800 (B) 957 (C) 985 (D) 1,003 (E) 1,037
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Comparative Public Budgeting
Authors: George M Guess
2nd Edition
1316648109, 978-1316648100
