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stranahan stranahan
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7 years ago
You have agreed to a $50,000 fixed-rate loan from First National Bank today and promise to repay the loan with 36 equal monthly payments at an APR of 6.50%. How large are your monthly payments? Use a financial calculator to determine your answer.
A) $1,650.71
B) $1246.77
C) $1,45821
D) $1,532.45
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
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macawmatanemacawmatane
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7 years ago
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More solutions for this book are available here
D -- Via financial calculator: PV = -$25,000, I% = 7.50/12, N = 24, FV = 0. Solve for PMT = $1,124.99
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stranahan Author
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#2
6 years ago
Thanks Smiling Face with Open Mouth and Tightly-closed Eyes
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