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

in this we have to calculate present value unpaid loan.

Answered: the unpaid balance be Immediately after…

Business

Finance

the unpaid balance be Immediately after the eleventh payment?

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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