Question
Ford borrows 10,000,000 at 7% per annum interest rate compounded quarterly. The loan is amortized over 5 years and requires quarterly payments. Ford's principal will
Ford borrows 10,000,000 at 7% per annum interest rate compounded quarterly. The loan is amortized over 5 years and requires quarterly payments. Ford's principal will be drawn down to zero after its last payment. What percentage Fords 10th payment is principle?
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The Wealthtech Book The FinTech Handbook For Investors Entrepreneurs And Finance Visionaries
Authors: Susanne Chishti, Thomas Puschmann
1st Edition
1119362156, 978-1119362159
