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A borrower is evaluating a loan $88,000 with annual rate of interest at 12%. He anticipates making monthly payments of $2,100 then a lump
A borrower is evaluating a loan $88,000 with annual rate of interest at 12%. He anticipates making monthly payments of $2,100 then a lump sum future payment of $12,875. How long is he expecting to be paying this loan (rounded to the nearest number years / months)?
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To determine how long the borrower will be paying the loan we can use the present value formula for ...
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
