Question
You receive a $71,000 5-year constant amortization loan (CAL). The loan's annual interest rate is 15%. What is the total payment (PMT) in year 4,
You receive a $71,000 5-year constant amortization loan (CAL). The loan's annual interest rate is 15%. What is the total payment (PMT) in year 4, rounded to the nearest dollar? (Acceptable error = $100)
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Contemporary Issues In Finance
Authors: Simon Grima, Frank Bezzina, Inna Romanova
1st Edition
1786359073, 978-1786359070
