Question
Geoff and Gail wish to borrow $75,000 to be repaid by equal monthly instalments over 25 years. The nominal interest rate is 9.9% per annum
Geoff and Gail wish to borrow $75,000 to be repaid by equal monthly instalments over 25 years. The nominal interest rate is 9.9% per annum and the repayments will be made at the end of each month. What is the amount of the monthly repayment?
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Fundamentals of Corporate Finance
Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim
6th Canadian edition
1259024962, 978-1259024962
