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?

Answer rating: 100% (QA)

To calculate the amount that the bank would receive from the b... View the full answer