Problembrian borrows 70000 at 8 percent annually compounded, Ask an Expert

Finance

Problem:

Brian borrows $70,000 at 8 percent annually compounded interest to be repaid in 15 equal annual installments.

Required:

Question: What is the end of year loan payment he would make each year?

Note: Solve the given numerical problem and illustrate step by step calculation.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91174666

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