İhsan wants to pay the 50,000 TL loan he received from the bank in annual installments of 2,500 TL at the end of each year, and if any balance payment remains, he will make the remaining balance after the last installment. If the annual interest rate is 5%, Mr. İhsan, how many payments and what will be the final balance payment.
İhsan wants to pay the 50,000 TL loan he received from the bank in annual installments of 2,500 TL at the end of each year, and if any balance payment remains, he will make the remaining balance after the last installment. If the annual interest rate is 5%, Mr. İhsan, how many payments and what will be the final balance payment.
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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İhsan wants to pay the 50,000 TL loan he received from the bank in annual installments of 2,500 TL at the end of each year, and if any balance payment remains, he will make the remaining balance after the last installment. If the annual interest rate is 5%, Mr. İhsan, how many payments and what will be the final balance payment.
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