Question
Mary borrowed $100,000 seven years ago.The loan note was for 10 years at 8% interest with annual payments.She just made the seventh payment.Now she wants
Mary borrowed $100,000 seven years ago.The loan note was for 10 years at 8% interest with annual payments.She just made the seventh payment.Now she wants to pay off the loan.About how much does she still owe on the loan?
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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
5th edition
321280299, 321280296, 978-0321280299
