Question
A firm borrows $5000 and the loan is to be repaid in 4 equal payments at the end of each of the next 4 years
A firm borrows $5000 and the loan is to be repaid in 4 equal payments at the end of each of the next 4 years so that the ending balance at the end of year 4 is 0. The interest rate on the loan is 10 percent. The principal repayment in year 3 is:
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The Road To Wealth The Answers You Need To More Than 2000 Personal Finance Questions
Authors: Suze Orman
1st Edition
9781594484582
