Question
A debt of $33000 is to be repaid through annual payments of $1400 for the first 5 years, followed by annual payments of $2500 thereafter
A debt of $33000 is to be repaid through annual payments of $1400 for the first 5 years, followed by annual payments of $2500 thereafter for as long as necessary. The interest rate is j2=3.6% What is the outstanding balance after the 6th payment?
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Auditing and Assurance Services A Systematic Approach
Authors: William Messier, Steven Glover, Douglas Prawitt
9th edition
1308361491, 77862333, 978-1259248290, 9780077862336, 1259162346, 978-1259162343
