Ten years ago you borrowed $250000. The term of the loan was 21 years and required monthly

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Ten years ago you borrowed $250000. The term of the loan was 21 years and required monthly payments of $2721.75. The interest rate on the loan was 12 percent compounded monthly. You have just made the 126th payment.

What is the principal outstanding?

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Introduction To Corporate Finance

ISBN: 9781118300763

3rd Edition

Authors: Laurence Booth, Sean Cleary

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Posted Date: Jun 23, 2023 02:25 AM

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Ten years ago you borrowed $250000. The term of the loan was 21 years and required monthly

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To determine the principal outstanding after making the 126th payment we need to calculate the ... View the full answer

Introduction To Corporate Finance

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