Question
What size loan will produce ANNUAL DEBT SERVICE (ADS) of $75,000 with a loan amortizing principal over 15 years at an interest rate of 6.0%?
What size loan will produce ANNUAL DEBT SERVICE (ADS) of $75,000 with a loan amortizing principal over 15 years at an interest rate of 6.0%? Please show formulas and steps to find the answer! Thank You! ( we also know the answer is $740,646.97 just dont know how to get it)
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Cases In Financial Reporting
Authors: Ellen Engel, D. Eric Hirst, Mary Lea McAnally
7th Edition
1934319791, 9781934319796
