Question
Old Balance real estate wants to borrow $3.5 million to invest in a retirement village project. The interest rate for the borrowing is 8% in
Old Balance real estate wants to borrow $3.5 million to invest in a retirement village project. The interest rate for the borrowing is 8% in APR compounded quarterly. If Old Balance wants to pay back a fixed amount of money per quarter in perpetuity, what is the quarterly repayment for Old Balance?
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Borow S 8 5million Tnterest rate 7 ComPd rlea...
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A Pathway To Introductory Statistics
Authors: Jay Lehmann
1st Edition
0134107179, 978-0134107172
