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Suppose a loan is repaid with 10 annual payments of 500 euros each. At the time of the 5th payment (at the end of it),
Suppose a loan is repaid with 10 annual payments of 500 euros each. At the time of the 5th payment (at the end of it), the borrower pays an additional amount of 1000 euros, and the remaining amount is repaid in 6 years (after the 5th payment) with annual payments of X euros. If we assume an annual EPI = 9%, then find the undiminished capital at time t = 5 as well as the payment X.
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