Question
If you borrowed $ 10,000 to be repaid in 15 equal quarterly payments and after your 15th payment you decided to pay the remainder of
If you borrowed $ 10,000 to be repaid in 15 equal quarterly payments and after your 15th payment you decided to pay the remainder of the loan in a single payment. What will be the amount of the remaining balance with the interest being 10% compounded monthly?
Note: Please write the steps.
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Bond Markets Analysis And Strategies
Authors: Frank J. Fabozzi, Francesco A. Fabozzi
10th Edition
026204627X, 978-0253337535
