Question
You plan to borrow $39,000 at a 6.8% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How
You plan to borrow $39,000 at a 6.8% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2?
a. $7,186.20
b. $2,374.79
c. $2,343.67
d. $2,652.00
e. $6,728.65
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Finance Directors Handbook
Authors: Glynis D Morris, Sonia McKay, Andrea Oates
5th Edition
1566768691, 978-1566768696
