Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

you borrowed 5000 from ur cad and made a purcahse todat, and plan to carry 5000 each month as a balance for 20 years. if

you borrowed 5000 from ur cad and made a purcahse todat, and plan to carry 5000 each month as a balance for 20 years. if apr is 14.9%, and at the end of 20 years u get all ure interest refunded,

how much are mnthly cashflows

can teh bank say tat they have charge 0% effective rate

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Valuing The Earth, Economics, Ecology, Ethics

Authors: Herman E Daly, Kenneth N Townsend

2nd Edition

0262540681, 9780262540681

More Books

Students also viewed these Economics questions

Question

2. Information that comes most readily to mind (availability).

Answered: 1 week ago

Question

3. An initial value (anchoring).

Answered: 1 week ago