Question
Langara Woodcraft borrowed money to purchase equipment. The loan is repaid by making payments of $863.52 at the end of every three months over five
Langara Woodcraft borrowed money to purchase equipment. The loan is repaid by making payments of $863.52 at the end of every three months over five years. If interest is 7.6% compounded monthly, what was the original loan balance?
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International Financial Management
Authors: Cheol Eun, Bruce Resnick
5thEdition
0073382345, 9780073382340
