Question
a) A loan of $10000 is repaid by 20 level installments at the end of every 6 months. The nominal rate of interest is 8%,
a) A loan of $10000 is repaid by 20 level installments at the end of every 6 months. The nominal rate of interest is 8%, convertible half-yearly. Find the amount of level payment made each time.
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Introduction to Finance Markets Investments and Financial Management
Authors: Melicher Ronald, Norton Edgar
15th edition
9781118800720, 1118492676, 1118800729, 978-1118492673
