Question
Determine theequal, annual,end-of-year payment required over the life of the following loans to repay them fully during the stated term. Loan A: Principal($)= 40,000 Interest
Determine theequal, annual,end-of-year payment required over the life of the following loans to repay them fully during the stated term.
Loan A: Principal($)= 40,000 Interest Rate(%)= 6 Term of Loan(yrs)= 20 Annual payment=??
Loan B: Principal($)= 50,000 Interest Rate(%)= 7 Term of loan(yrs)= 7 Annual Payment=??
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CFIN
Authors: Scott Besley, Eugene Brigham
5th edition
978-1305666870
