Question
A loan of R 8600 is to be repaid by means of regular equal monthly payments of R 300 starting one month after the loan
A loan of R 8600 is to be repaid by means of regular equal monthly payments of R 300 starting one month after the loan is granted and a final payment F (F< R 300) made one month after the last equal R 300 payment. If interest on the loan is charged at 8,4% p.a. compounded monthly, then the final payment F can be correctly calculated from the expression:
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Derivative Products And Pricing The Das Swaps And Financial Derivatives Library
Authors: Satyajit Das
1st Edition
0470821647, 9780470821640
