Question
Data: Date of loan: 1/1/92. Amount of loan: $1,000,000. Date of first payment: 1/31/92. Frequency of payments: Monthly. Amount of each payment: Level. Number of
Data: Date of loan: 1/1/92.
Amount of loan: $1,000,000.
Date of first payment: 1/31/92.
Frequency of payments: Monthly.
Amount of each payment: Level.
Number of payments: 360.
Interest rate: X% per year, compounded monthly.
Portion of monthly payment due on 9/30/97 applied to interest: 94.473%.
Portion of monthly payment due on 10/31/97 applied to interest: 94.418%.
Calculate X
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The Ultra High Net Worth Bankers Handbook
Authors: Heinrich Weber, Stephan Meier
1st Edition
1905641753, 978-1905641758
