A bank made a $10,000 four-year auto loan paying 6 percent interest annually, The YTM for the
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A bank made a $10,000 four-year auto loan paying 6 percent interest annually, The YTM for the loan is 5%. Calculate the duration of the two-year auto loan.
Related Book For
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III
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