Question
You have a 30,000 loan at 8% annually for 30 years. You agree to pay off the principal in installments of 1,000 per year, and
You have a 30,000 loan at 8% annually for 30 years. You agree to pay off the principal in installments of 1,000 per year, and to pay interest on the outstanding balance each year. Find (a) the interest due in the 11th payment (b) the actual 11th payment
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Global Finance And The Macroeconomy
Authors: A. Makin
1st Edition
0333736982, 978-0333736982
