Question
Today, you borrowed $5,000 at 2.5% compounded weekly and have agreed to pay off the loan by making equal semi-annual payments over the next 2
Today, you borrowed $5,000 at 2.5% compounded weekly and have agreed to pay off the loan by making equal semi-annual payments over the next 2 years. Assume you were asked to find the amount of your semi-annual payment using the annuity present value formula. What interest rate would you use in the formula?
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Financial Management Principles And Practices
Authors: Timothy J. Gallagher
9th Edition
1954156103, 978-1954156104
