Question
A loan of $2500 taken out on April 2 requires equal payments on May 25, July 20, September 10, and a final payment of $500
A loan of $2500 taken out on April 2 requires equal payments on May 25, July 20, September 10, and a final payment of $500 on October 15. If the focal date is October 15, what is the size of the equal payments at 9% simple interest?
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Investments
Authors: Zvi Bodie, Alex Kane, Alan Marcus, Stylianos Perrakis, Peter
8th Canadian Edition
007133887X, 978-0071338875
