Question
In order to buy a car, you borrow $33,000 from a friend at 8%/year compounded monthly for 4 years. You plan to repay the loan
In order to buy a car, you borrow $33,000 from a friend at 8%/year compounded monthly for 4 years. You plan to repay the loan with 48 equal monthly payments.
What is the remaining balance after the 37th payment?
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Quantitative Finance Its Development Mathematical Foundations And Current Scope
Authors: T. Wake Epps
1st Edition
0470431997, 9780470431993
