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borteleto borteleto
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Posts: 2477
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6 years ago
Betty borrows $60,000 at 12 percent compounded annually. The loan is to be repaid in five equal annual end-of-year installments. How much must each loan payment be?
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
Read 85 times
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wrote...
6 years ago
 $16,644.58, based on PVA = $60,000; N = 5; I = 12%; PMT = $16,644.58
 
borteleto Author
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6 years ago
My teacher is very rude and likes to speed his way through a lesson without letting the class ask questions. Thank you for helping me. You're a life saver Slight Smile
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