Question
In order to purchase another truck, Beatty Transport obtained a $50,000 term loan for 5 years at 7.8% compounded semiannually. a) What are the monthly
In order to purchase another truck, Beatty Transport obtained a $50,000 term loan for 5 years at
7.8% compounded semiannually.
a) What are the monthly payments on the loan? - i have calculated PMT to be 1006.09
b) What will be the loan's balance at the end of the second year?
c) How much interest will Beatty pay in the first two years?
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Project Finance in Theory and Practice
Authors: Stefano Gatti
2nd edition
978-9382291589, 123919460, 978-0124157538, 978-0123919465
