Question: How much would a bank get if a borrower offered terms of repaying $10,000 every three year for 36 years (i.e. first payment 3 years
How much would a bank get if a borrower offered terms of repaying $10,000 every three year for 36 years (i.e. first payment 3 years from today, the second payment is received 6 years from today, etc.) and the relevant rate of interest is 5.5% compounded antally?
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