Question
A loan of $A is taken out today at j4 = 6%, repaid over n-years with quarterly payments of $2793.28. The total amount of principal
A loan of $A is taken out today at j4 = 6%, repaid over n-years with quarterly payments of $2793.28. The total amount of principal repaid in the first 5 years (first 20 payments) is $26,436.83. What is A?
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Intermediate Financial Management
Authors: Eugene BrighamPhillip Daves
1st Edition
0324594712, 9780324594713
