a. Determine the month-end payment for a $200,000, 10-year loan with an interest rate of 12 percent,

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a. Determine the month-end payment for a $200,000, 10-year loan with an interest rate of 12 percent, compounded monthly, assuming there is no down payment.

b. Calculate the outstanding loan amount after 18 months.

c. Redo part (a), assuming it is a mortgage loan with 12% annual interest rate and monthly payments.

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Introduction To Corporate Finance

ISBN: 9781118300763

3rd Edition

Authors: Laurence Booth, Sean Cleary

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Question Posted: Feb 25, 2015 09:24 AM

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a. Determine the month-end payment for a $200,000, 10-year loan with an interest rate of 12 percent,

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a PV200000 monthly rate12121 N 1012120 months So PMT2869 Or using a financial calcul...View the full answer

Introduction To Corporate Finance

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