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A person borrows $100,000 at a simple interest rate r = 24%. He is to repay the loan with 2 payments, one at the
A person borrows $100,000 at a simple interest rate r = 24%. He is to repay the loan with 2 payments, one at the end of 2 months and the other at the end of 6 months. The first payment is the same as the 2nd payment. Determine the size of the payments, using the end of 6 months as the focal date. OA. $53,846.15 O B. $46,296.30 OC. $53,925.93 O D. $48,076.92
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
11th edition
978-1111530266
