Question
A loan of $45,000 at 8% compounded quarterly is to be amortized over four years with equal payments made at the end of every three
A loan of $45,000 at 8% compounded quarterly is to be amortized over four years with equal payments made at the end of every three months. How much interest will be included in the first payment?
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Contemporary Financial Management
Authors: James R Mcguigan, R Charles Moyer, William J Kretlow
10th Edition
978-0324289114, 0324289111
