Question
Question 3 You borrowed $470,000 from a private financial institution. The monthly flat rate is 0.13% and you plan to pay it off in 8
"Question 3
You borrowed $470,000 from a private financial institution.
The monthly flat rate is 0.13% and you plan to pay it off in 8 years with monthly repayment. Interest is allocated based on Rule of 78.
Find the amount of interest accrued in the final month."
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Financial Markets And Institutions
Authors: Jeff Madura
9th Edition
1439038848, 978-1439038840
