Question
A loan of $2150 is to be repaid by annual payments of $258 to commence at the end of the 5th year and to continue
A loan of $2150 is to be repaid by annual payments of $258 to commence at the end of the 5th year and to continue thereafter for as long as necessary. Find the time and amount of the final payment, if the final payment is to be larger than the regular payments. Assume i=5.6%. Find
Last payment at time=?
Last payment=?
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. Mcguigan, William J. Kretlow
9th Edition
032416470X, 9780324164701
