Question
Assume interest rate of 5% compounded annually. Borrow 10,000. Five years into the loan you borrow another 10,000. Nothing is paid until the end of
Assume interest rate of 5% compounded annually.
Borrow 10,000. Five years into the loan you borrow another 10,000. Nothing is paid until the end of the tenth year after the original loan at which point you pay off the entire amount. What is the payment?
Borrow 10,000, you make three equal payments, the first two years after the loan, the second five years after the original loan and the last payment 10 years after the original loan. If the payments pay off the loan in its entirety, what is the amount of each payment?
If two years after the loan, five years after the loan an ten years after the loan you pay 1,000 each period. After the last payment how much will you still owe?
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