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Actuarial Finance Question Help A loan of $ 1,000 is repaid by equal annual amounts of principal for 10 years and annual interest of 7%
Actuarial Finance Question Help
A loan of $ 1,000 is repaid by equal annual amounts of principal for 10 years and annual interest of 7% on the outstanding balance. What is the schedule of loan payments? What is the PV of the payments in (a) at 7% effective? What is the purchase price of this loan to yield 5% effectiveStep by Step Solution
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