Question

You are an officer of a commercial bank and wish to sell a car loan that the bank owns as an asset to another bank. Using equation A5 in the Appendix to Chapter 4, compute the price you expect to receive for the loan if the annual interest rate is 6 percent, the car payment is $430 per month, and the loan term is five years.



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  • CreatedOctober 02, 2014
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