Question
How much would your yearly repayments (A)(A) be if you borrow today $500,000 for tt=30 years at the interest rate ii=6% compounded annually? Assume that
How much would your yearly repayments (A)(A) be if you borrow today $500,000 for tt=30 years at the interest rate ii=6% compounded annually? Assume that the first repayment is paid at the start of year 1 (round off to 2 decimal places in intermediate calculations).
Select one:
about 34,268
about 36,324
None of the answers is correct.
about 55,758
about 2,872,746
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
978-0073526706, 9780073526706
