Question
Your yearly loan repayments on a $250,000 loan over ten years are $34,776.17.If the interest rate is 6.5% p.a., what is the amount of principal
Your yearly loan repayments on a $250,000 loan over ten years are $34,776.17.If the interest rate is 6.5% p.a., what is the amount of principal repaid in the first year?
a.$215,223.83
b. $231,473.83
c. $16,250.00
d.$18,526.17
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
