A bank customer borrows X at an effective annual rate of 12.5% and makes level payments at
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Question:
A bank customer borrows
X at an effective annual rate of 12.5% and
makes level payments at the end of each year for
n years
(i) The interest part of the final payment is 153.86.
(ii) The total capital repaid during n ?
1) payments (without the last is6,009.12
(iii) The principal repaid in the first payment is
AND . Calculate Y.
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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