Question
If a loan of $25000 is taken out at an interest rate of 2.7% compounded monthly and a term of 11 years, what will the
If a loan of $25000 is taken out at an interest rate of 2.7% compounded monthly and a term of 11 years, what will the balance be after 20 payments, assuming monthly payments?
My answer was incorrect at $21,297.52?
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Financial Markets And Corporate Strategy
Authors: David Hillier , Mark Grinblatt , Sheridan Titman
2nd Edition
0077129423,0077141350
