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Please solve by hand writing. thank you Question 11.01 A loan is being repaid with 45 annual payments of 400 . Immediately after the 15th
Please solve by hand writing. thank you
Question 11.01 A loan is being repaid with 45 annual payments of 400 . Immediately after the 15th payment, the borrower pays an extra 2,000. The balance is then repaid with level payments of X over the next 25 years. The annual effective interest rate is 7%. Calculate X. A 254 B 291 C 327 D 364 E 400 Question 11.01 A loan is being repaid with 45 annual payments of 400 . Immediately after the 15th payment, the borrower pays an extra 2,000. The balance is then repaid with level payments of X over the next 25 years. The annual effective interest rate is 7%. Calculate X. A 254 B 291 C 327 D 364 E 400Step by Step Solution
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