Question
A debt of $7000 due in five years is to be repaid by a payment of $3000 now and a second payment at the end
A debt of $7000 due in five years is to be repaid by a payment of $3000 now and a second payment at the end of five years. How much should the second payment be if the interest rate is 8% compounded monthly?
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Budget Tools Financial Methods In The Public Sector
Authors: Greg G. Chen, Lynne A. Weikart, Daniel W. Williams
2nd Edition
1483307700, 9781483307701
