Question
A loan of $1000 is made at an interest rate of 12% compounded monthly. The loan is to be repaid with three payments: $400 at
A loan of $1000 is made at an interest rate of 12% compounded monthly. The loan is to be repaid with three payments: $400 at the end of the third year, $800 at the end of the fifth year and the balance at the end of the seventh year. Calculate the amount of the final payment.
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Handbook Of Financial Risk Management
Authors: Thierry Roncalli
1st Edition
1138501875, 978-1138501874
