Question
Payments on a Jan. 1, 1995 40,000 loan are as follows: 1/1/96: 5,000 1/1/97: 5,000 1/1/98: 5,000 On July 1, 1998 an additional 10,000 is
Payments on a Jan. 1, 1995 40,000 loan are as follows:
- 1/1/96: 5,000
- 1/1/97: 5,000
- 1/1/98: 5,000
On July 1, 1998 an additional 10,000 is paid on the loan and no more payments are made.
If d(4)=0.1d(4)=0.1 how much is owed on the loan on Jan. 1, 2005?
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes
3rd Edition
0073382426, 9780073382425
