Mrs. Lang Chua purchased a Bike at $845,000. She paid a down payment of $50,000 and promised to pay the balance at equal payment every end of the month at 12.75% compounded monthly for 5 years. Find the monthly periodic payment and construct an amortization schedule.
Mrs. Lang Chua purchased a Bike at $845,000. She paid a down payment of $50,000 and promised to pay the balance at equal payment every end of the month at 12.75% compounded monthly for 5 years. Find the monthly periodic payment and construct an amortization schedule.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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