A 6-year car loan charges flat rate at 2.5% per annum, to be repaid by a monthly annuity-due. Calculate the ENR in monthly rest of the loan. If the borrower decides to redeem early after 12, 24, 36, 48 and 60 payments, calculate the ENR in monthly rest charged over these periods. If you could show me how to find the ENR number for the monthly rates if the borrower redeems it earlier that would be great thank you.
A 6-year car loan charges flat rate at 2.5% per annum, to be repaid by a monthly annuity-due. Calculate the ENR in monthly rest of the loan. If the borrower decides to redeem early after 12, 24, 36, 48 and 60 payments, calculate the ENR in monthly rest charged over these periods. If you could show me how to find the ENR number for the monthly rates if the borrower redeems it earlier that would be great thank you.
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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A 6-year car loan charges flat rate at 2.5% per annum, to be repaid by a monthly
the ENR in monthly rest of the loan. If the borrower decides to redeem early after 12, 24, 36, 48 and 60
payments, calculate the ENR in monthly rest charged over these periods.
If you could show me how to find the ENR number for the monthly rates if the borrower redeems it earlier that would be great thank you.
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