Question
You plan to borrow $45,000 at a 7.5% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How
You plan to borrow $45,000 at a 7.5% 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?
| $2,931.11 | ||
| $3,110.56 | ||
| $3,080.65 | ||
| $2,990.92 | ||
| $2,273.10 |
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Multinational Financial Management
Authors: Alan C. Shapiro
7th Edition
0471395307, 9780471395300
