Your wealthy great aunt is going to help you finance the purchase of your first condo. She
Fantastic news! We've Found the answer you've been seeking!
Question:
Your wealthy great aunt is going to help you finance the purchase of your first condo. She will lend you $80,000 today. You agree to pay her 5 equally sized payments. The 1st payment will be 1 year from today, and 4 more payments will follow every 3 years (so payments at the end of years 1, 4, 7, 10, and 13). If the interest rate she charges is 2.00% per year, how much will each payment be?
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Posted Date: