Question
A borrower obtains a fully amortizing loan for $80,000 at 12 percent for 8 year. Payments are monthly. If the loan is CAM (constant amortizing
A borrower obtains a fully amortizing loan for $80,000 at 12 percent for 8 year. Payments are monthly. If the loan is CAM (constant amortizing mortgage) loan, what would be the third monthly payment? (Answer is rounded)
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Management Of Islamic Finance
Authors: M. Kabir Hassan, Mamunur Rashid
1st Edition
1787564045, 978-1787564046
