Question
What is the effective cost of the following combined loan? Loan amount Term Monthly pymt 1-10 Monthly pymt 11-20 180,000 20years -1619.51 -1619.51 40,000 10
What is the effective cost of the following combined loan?
| Loan amount | Term | Monthly pymt 1-10 | Monthly pymt 11-20 |
| 180,000 | 20years | -1619.51 | -1619.51 |
| 40,000 | 10 years | -597.24 | 0 |
| 220,000 |
| -2216.75 | -1619.51 |
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
13th edition
1439078106, 111197375X, 9781439078105, 9781111973759, 978-1439078099
