A $ 1 0 0 0 loan is being paid off with annual payments of $ 1

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A $

1000

loan is being paid off with annual payments of $

100

at the end of each year for as long as necessary with final payment of $

100

increased by ballon payment

.

if j

1

3.5 % .

What is size of ballon payment.

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Understanding Cross Cultural Management

ISBN: 9781292015897

3rd Edition

Authors: Marie Joelle Browaeys, Roger Price

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Posted Date: Mar 25, 2024 11:06 AM

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A $ 1 0 0 0 loan is being paid off with annual payments of $ 1

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Expert Answer:

To find the size of the balloon payment we can use the formula for the present value of ... View the full answer

Understanding Cross Cultural Management

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