Question
Brandon's student loan of $26,000 at 2.62% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was
Brandon's student loan of $26,000 at 2.62% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was the principal balance on the loan after 2 years?
Round to the nearest cent
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Financial Risk Manager Handbook
Authors: Philippe Jorion
6th Edition
0470904011, 978-0470904015
