Geoff and Gail wish to borrow $75,000 to be repaid by equal monthly instalments over 25 years.
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Geoff and Gail wish to borrow $75,000 to be repaid by equal monthly instalments over 25 years. The nominal interest rate is 9.9% per annum and the repayments will be made at the end of each month. What is the amount of the monthly repayment?
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1259024962
6th Canadian edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim
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