Question
Suppose you borrowed $25,000 at a rate of 8% and must repay it in 4 equal installments at the end of each of the next
Suppose you borrowed $25,000 at a rate of 8% and must repay it in 4 equal installments at the end of each of the next 4 years. How much would you still owe at the end of the first year, after you have made the first payment?
A. $19,452
B. $21,110
C. $19,049
D. $18,976
E. $18,513
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Handbook Of Global Financial Markets
Authors: Sabri Boubaker, Duc Khuong Nguyen
1st Edition
9813236647, 978-9813236646
