A loan is repaid with equal annual payments of $450 at the end of each year for 10 years. AEIR-3% for the first five years and 5% thereafter What is the outstanding loan balance just after the 8th payment if the third payment was missed? OA 1358.41 OB. The answer does not appear here OC 1389 39 D 1411 06 E 1748 61
A loan is repaid with equal annual payments of $450 at the end of each year for 10 years. AEIR-3% for the first five years and 5% thereafter What is the outstanding loan balance just after the 8th payment if the third payment was missed? OA 1358.41 OB. The answer does not appear here OC 1389 39 D 1411 06 E 1748 61
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
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Transcribed Image Text:Question 7
A loan is repaid with equal annual payments of S450 at the end of each year for 10 years. AEIR-3% for the first five years and 5% thereafter
What is the outstanding loan balance just after the 8h payment if the third payment was missed?
A. 1358.41
OB. The answer does not appear here
C.1389.39
OD 1411.06
E 1748.61
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