Question
You borrow $10,000 for 3 years. You are required to repay the amount in equal monthly repayments commencing in 1 month from today. If the
You borrow $10,000 for 3 years. You are required to repay the amount in equal monthly repayments commencing in 1 month from today. If the interest rate is 7.2% compounding monthly, the formula that we can enter to cell B5 to calculate the amount of the repayment is:
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Personal Finance
Authors: E. Thomas Garman, Raymond E. Forgue
13th edition
1337099759, 978-1337516440, 1337516449, 978-1337099752
