What if you make the first payment on loan immediately, Ask an Expert

Finance

Problems:

a. If you borrow $1,000 and agree to repay the loan in five equal annual payments at an interest rate of 12 percent, what will your payment be?

b. What if you make the first payment on the loan immediately instead of at the end of the first year?

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M9205338

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