EBK CFIN
5th Edition
ISBN: 9781305888036
Author: BESLEY
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question
Chapter 4, Problem 23PROB
Summary Introduction
W has taken loan of $50,000 at 4.2% interest rate and need to make monthly payments for 10 years.
Here,
The present value of an annuity is “
The periodic payments are “PMT”.
The interest rate is “r”.
The maturity period of number of years is “n”.
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