Question
Henry must pay for 10 years a quota of $ 100,000 semiannual agreed to 16% semiannual. When making the ninth payment, he wants to pay
Henry must pay for 10 years a quota of $ 100,000 semiannual agreed to 16% semiannual. When making the ninth payment, he wants to pay off his balance with a one-time payment. How much must he pay at that time to pay off his debt?
If applicable, draw the cash flow diagram.
Ans: $502.864.44
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International Financial Reporting Standards An Introduction
Authors: Belverd E. Needles, Marian Powers
3rd Edition
1133187943, 978-1133187943
