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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Transcribed Image Text:You are consldering taking out a loan of $11,000.00 that will be pald back over 9 years with every 2
months payments of $269.03. If the interest rate is 6.4% compounded every 2 months, what would
the unpaid balante be Immediately after the eleventh payment?
The unpald balance would be $
(Round to 2 decimal places.)
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