Question
Charlie borrowed $100000 today. The interest rate on the loan is j1=4.2%{version:1.1,math:(j_{1}= 4.2%)} for the first 5 years, then it changes to j1=8%{version:1.1,math:(j_{1}= 8%)} thereafter.
Charlie borrowed $100000 today. The interest rate on the loan is j1=4.2%{"version":"1.1","math":"\(j_{1}= 4.2\%\)"} for the first 5 years, then it changes to j1=8%{"version":"1.1","math":"\(j_{1}= 8\%\)"} 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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Airline Finance
Authors: Peter S. Morrell
4th Edition
1351959743, 978-1351959742
