Question
If you borrowed $116,756.0 today at an annual interest rate of 1.0% and plan to repay this loan by paying $11,675.60 per year, how many
If you borrowed $116,756.0 today at an annual interest rate of 1.0% and plan to repay this loan by paying $11,675.60 per year, how many years will it take you to repay the loan?
Calculate the present value of a 3.0% annuity due that pays $3,579 per year for 10 years starting today?
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SOLUTION 1 To calculate the number of years it will take to repay the loan we can use the formula fo...
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
