Question
You have borrowed $135,000 from the bank today. You are required to repay this money over the next six years by making monthly payments of
You have borrowed $135,000 from the bank today. You are required to repay this money over the next six years by making monthly payments of $2,215.10 at the end of each month. What is the quoted interest rate for the loan (with monthly compounding)?
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Investment Risk Management
Authors: Yen Yee Chong
1st Edition
0470849517, 9780470849514
