Question
A loan of $150,000 is to be repaid with 48 equal monthly payments. The first payment is to be made at the end of the
A loan of $150,000 is to be repaid with 48 equal monthly payments. The first payment is to be made at the end of the 8th month from the date of the loan. What is the size of each payment if the interest rate is 15%, compounded monthly?
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The Ascendancy Of Finance
Authors: Joseph Vogl, Simon Garnett
1st Edition
1509509305, 978-1509509300
