you borrowed $1,000 from a bank with 12% annual interest rate. You want to pay off the debt in 4 years by paying equal amount of money each year. How much equal amount of money do you need to pay each year? Check your answer with interest table which calculate the increase/decrease of each year
you borrowed $1,000 from a bank with 12% annual interest rate. You want to pay off the debt in 4 years by paying equal amount of money each year. How much equal amount of money do you need to pay each year? Check your answer with interest table which calculate the increase/decrease of each year
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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you borrowed $1,000 from a bank with 12% annual interest rate. You want to pay off the debt in 4 years by paying equal amount of money each year. How much equal amount of money do you need to pay each year? Check your answer with interest table which calculate the increase/decrease of each year
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