Question
You are shopping for a loan, and a bank quotes you a rate of 6% (expressed as an APR with continuous compounding). The loan amount
You are shopping for a loan, and a bank quotes you a rate of 6% (expressed as an APR with continuous compounding). The loan amount is $100,000 and requires monthly interest payments. The loan principal will not be paid until the loan maturity in 10 years. What would be the monthly interest payment that you would have to make on this loan?
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The International Handbook Of Public Financial Management
Authors: Richard Allen, Richard Hemming, B. Potter
1st Edition
1137574895, 978-1137574893
