Question
I have arranged to borrow $10,000 from my parents toward a holiday. I will repay the loan over 3 years in equal year-end payments. If
I have arranged to borrow $10,000 from my parents toward a holiday. I will repay the loan over 3 years in equal year-end payments. If the interest rate is 6.8% p.a. compounding monthly, my annual repayment is (rounded to nearest dollar; dont include the $ sign or commas):
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Fundamentals Of Corporate Finance
Authors: Stephen A Ross, Randolph W Westerfield, Bradford D Jordan
7th Edition
0073134295, 9780073134291
