Question
a 5000 loan is being repaid over a two-year period with level payments at the end of each quarter. The interest rate is 8% convertible
a 5000 loan is being repaid over a two-year period with level payments at the end of each quarter. The interest rate is 8% convertible quarterly. find the jump in the duration of the loan following the 5th payment.
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Contemporary Financial Management
Authors: R. Charles Moyer, William J. Kretlow, James R. Mcguigan
7th Edition
0538877766, 9780538877763
