Question
You just borrowed $2,000,000 to buy the yacht of your dream. The current annual loan rate is 10% compounded monthly and you will pay the
You just borrowed $2,000,000 to buy the yacht of your dream. The current annual loan rate is 10% compounded monthly and you will pay the loan off in equal monthly payments over 10 years. What is the size of your monthly payment?
| $33,503 | ||
| $37,334 | ||
| $26,430 | ||
| $24,266 | ||
| $31,053 |
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Investments An Introduction
Authors: Herbert B Mayo
11th Edition
1133936520, 9781133936527
