Question
Charlie borrowed $148000 today. The interest rate on the loan is j1=4% for the first 5 years, then it changes to j1=8.9% thereafter. To repay
Charlie borrowed $148000 today. The interest rate on the loan is j1=4% for the first 5 years, then it changes to j1=8.9% 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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Financial Mathematics
Authors: Cacildo Marques
1st Edition
8741574710, 979-8741574713
