Question
You are taking out a $8,000 loan to be paid out over 8 years in eight equal annual payments. Each payment will be made at
You are taking out a $8,000 loan to be paid out over 8 years in eight equal annual payments. Each payment will be made at the end of each year. Suppose that the interest rate of this loan is 8 percent. What is the outstanding amount of the loan principal right after the first annual payment using TI BA II Plus?
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Millon Cornett
9th edition
1259717771, 1259717772, 9781260048186, 1260048187, 978-1259717772
