3. A firm borrowed $1.8 million at 10% per year interest. If the firm repaid the loan in a one payment after 2 years, what was (a) the amount of the payment and (b) the amount of interest? Show up your calculations

3. A firm borrowed $1.8 million at 10% per year interest. If the firm repaid the loan in a one payment after 2 years, what was (a) the amount of the payment and (b) the amount of interest? Show up your calculations

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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