Question
In order to buy a car, you borrow $24,500 from a friend at 10%/year compounded monthly for 4 years. You plan to repay the loan
In order to buy a car, you borrow $24,500 from a friend at 10%/year compounded monthly for 4 years. You plan to repay the loan with 48 equal monthly payments. monthly payments=621.38 How much interest is in the 23rd payment? $
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Handbook Of Financial Risk Management
Authors: Thierry Roncalli
1st Edition
1138501875, 978-1138501874
