Question
You get a loan today for $100,000 and you will pay the loan back as five payments of $15,000 each year in years 1 to
You get a loan today for $100,000 and you will pay the loan back as five payments of $15,000 each year in years 1 to 5 AND a single "catch-up" payment in year 3. If the loan interest rate is 5%, how big is the "catch-up" payment in year 3?
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Multinational Finance
Authors: Kirt C. Butler
4th Edition
1405181184, 978-1405181181
