Question
You borrowed $5,000 at 6% compounded annually. Your payments are $1,442.96 at the end of each year. How many years will you make payments on
You borrowed $5,000 at 6% compounded annually. Your payments are $1,442.96 at the end of each year. How many years will you make payments on the loan?
| a. | 5 years | |
| b. | 7 years | |
| c. | 6 years | |
| d. | 4 years |
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Foundations Of Financial Management
Authors: Stanley B. Block, Geoffrey A. Hirt, Bartley R. Danielsen
13th Edition
0073382388, 978-0073382388
