Question
A company makes a loan and receives level annual repayments from the borrower at the end of each year for 7 years. The effective rate
A company makes a loan and receives level annual repayments from the borrower at the end of each year for 7 years. The effective rate of interest is 5.75%. what is the modified duration of the loan repayment?
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Financial Accounting The Impact On Decision Makers
Authors: Gary A Porter, Curtis L Norton
8th Edition
1111534861, 9781111534868
