Question
Clay Harden borrowed $37,000 from a bank at an interest rate of 8% compounded monthly. The loan will be repaid in 36 equal monthly installments
Clay Harden borrowed $37,000 from a bank at an interest rate of 8% compounded monthly. The loan will be repaid in 36 equal monthly installments over three years. Immediately after his 22th payment, Clay desires to pay rthe remainer of the loan in a signle payment. Compute the total amount he must pay.
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Global Corporate Finance A Focused Approach
Authors: Kenneth A. Kim
1st Edition
9814335827, 9789814335829
