Question
Nancy borrowed $12000 from her parents at the end of each year for 40 years. She promised to pay 11.5 percent annual interest each time
Nancy borrowed $12000 from her parents at the end of each year for 40 years. She promised to pay 11.5 percent annual interest each time she borrowed. How much does she owe after 40 years if she still hasnt repaid any of the borrowed money?
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Fundamentals Of Institutional Asset Management
Authors: Frank J Fabozzi, Francesco A Fabozzi
1st Edition
9811220034, 9789811220036
