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For bonds, assume coupons paid semi-annually, coupon rates and yields quoted with semi-annual compounding, and redeemable at par unless otherwise noted - A loan of
For bonds, assume coupons paid semi-annually, coupon rates and yields quoted with semi-annual compounding, and redeemable at par unless otherwise noted
- A loan of $300,000 is repaid with monthly payments at the end of each month for thirty years at 4.5% convertible monthly. Find the outstanding loan balance at the end of the fifth year.
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