Question
Bank offers 4-year credit in amount of 100,000 PLN. Credit installments are fixed and paid at the end of each quarter. Each installment consist of
Bank offers 4-year credit in amount of 100,000 PLN. Credit installments are fixed and paid at the end of each quarter. Each installment consist of principal and interest and equals 7,961.09 PLN. By how many p.p. is effective annual rate greater than nominal rate? What is the effective rate per 6M?
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Public Finance
Authors: Harvey S Rosen, Ted Gayer
9th International Edition
0071267883, 9780071267885
