Question
I have arranged to borrow $14,000 from my parents toward a holiday. I will repay the loan over 5 years in equal year-end payments. If
I have arranged to borrow $14,000 from my parents toward a holiday. I will repay the loan over 5 years in equal year-end payments. If the interest rate is 5.6% p.a. compounding monthly, my annual repayment is (rounded to nearest dollar; dont include the $ sign or commas):
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Practical Financial Management
Authors: William R. Lasher
7th edition
128560721X, 9781133593669, 1133593682, 9781285607214, 978-1133593683
