Question
A firm borrows $100,000 under a 3 year agreement at 12 % interest. The loan requires annual payments of $25,000 at the end of years
A firm borrows $100,000 under a 3 year agreement at 12 % interest. The loan requires annual payments of $25,000 at the end of years 1 and 2. What is the payment required at the end of year three with this balloon loan?
| $33,333 | ||
| $81,133 | ||
| $72,440 | ||
| $131,133 |
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Exchange Rates and International Finance
Authors: Laurence Copeland
6th edition
273786040, 978-0273786047
