Question
Charlie borrowed $100000 today. The interest rate on the loan isj1=4.2% for the first 5 years, then it changes toj1=8%thereafter. To repay the loan, Charlie
Charlie borrowed $100000 today. The interest rate on the loan isj1=4.2%
for the first 5 years, then it changes toj1=8%thereafter. To repay the loan, Charlie makes yearly payments of R dollars (in the end of year) from year 3 to year 11. What is R?
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
13th Edition
978-0134083308, 013408330X
