Question
You take a loan for 10 years that is to be repaid in equal annual installments. The amount of a loan is 10 000, the
You take a loan for 10 years that is to be repaid in equal annual installments.
The amount of a loan is 10 000, the annual interest rate is 5%.
What is an annual payment?
Hint: use PVA formula to derrive CF.
a.
about 1000
b.
about 1050
c.
about 1300
d.
about 1600
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Social Media Marketing 2020
Authors: Frank Darrell
1st Edition
1706900988, 978-1706900986
