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For a loan of $ 10,000 a person must pay $ 1,000 at the end of each year until his debt is paid, an interest
For a loan of $ 10,000 a person must pay $ 1,000 at the end of each year until his debt is paid, an interest rate of 8% per year is considered. Determine the number of payments to be made.
a)If n is not an exact integer value. Compute the amount of the fractional payment at time of the last regular payment.
b) If n is not an exact integer value. Compute the amount of the fractional payment one period after the last regular payment.
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