Question
Suppose you borrowed $30,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next
Suppose you borrowed $30,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment?
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International Financial Management
Authors: Cheol Eun, Bruce Resnick
5thEdition
0073382345, 9780073382340
