Question
A couple borrows $25,000 to be repaid with the monthly payments over 48 months atj4= 12%.They make the first 14 payments and miss the next
A couple borrows $25,000 to be repaid with the monthly payments over 48 months atj4= 12%.They make the first 14 payments and miss the next three. What new equal monthly payments (up to the next dime) over 31 months would repay the loan on schedule and what will be the concluding payment?
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To calculate the new equal monthly payments over 31 months we need to find the remaining balance on ...
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
