Question
Consider 10-year loan of Sh. 300,000 at 12% interest payable monthly. The lender charges 5% origination fees. Calculate the effective interest rate, assuming an early
Consider 10-year loan of Sh. 300,000 at 12% interest payable monthly. The lender charges 5% origination fees. Calculate the effective interest rate, assuming an early repayment at end of year 4?
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Practical Financial Management
Authors: William R. Lasher
7th edition
128560721X, 9781133593669, 1133593682, 9781285607214, 978-1133593683
