Question
You are borrowing money today at 8.48 percent, compounded annually. You will repay the principal plus all the interest in one lump sum of $12,800
You are borrowing money today at 8.48 percent, compounded annually. You will repay the principal plus all the interest in one lump sum of $12,800 two years from today. How much are you borrowing?
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The Handbook Of European Fixed Income Securities
Authors: Frank J. Fabozzi, Moorad Choudhry
1st Edition
0471430390, 978-0471430391
