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A loan for $53,000 is made for 10 years at 8 percent interest and no monthly payments will be due (assuming monthly compounding). Required: a.
A loan for $53,000 is made for 10 years at 8 percent interest and no monthly payments will be due (assuming monthly compounding). Required: a. How much will be due at the end of 10 years? b. What will be the yield to the lender if it is repaid after eight years? c. If 4 point is charged to the yield, what will be the new yield to the lender
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
7th Edition
013213683X, 978-0132136839
