Question
You borrowed $100,000 from your friend and you can afford to pay $20,000 every year. Your friend charges you 4% annual interest rate. How many
You borrowed $100,000 from your friend and you can afford to pay $20,000 every year. Your friend charges you 4% annual interest rate. How many years does it take for you to completely pay off the principal and interest?
| 10 years | ||
| 4 years | ||
| 6 years | ||
| 8 years |
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Introductory Econometrics For Finance
Authors: Chris Brooks
3rd Edition
1107661455, 9781107661455
