You want to buy a bus. Cost is $180,000 with 10% down and the rest in...
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You want to buy a bus. Cost is $180,000 with 10% down and the rest in 5 equal annual payments which include interest at 6%. The payments begin in one year. How much are the payments? Amortize the loan You want to buy a bus. Cost is $180,000 with 10% down and the rest in 5 equal annual payments which include interest at 6%. The payments begin in one year. How much are the payments? Amortize the loan
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To calculate the amount of the payments we can use the formula for the present value of an annuity P... View the full answer
Related Book For
Fundamentals of Financial Management
ISBN: 978-0324664553
Concise 6th Edition
Authors: Eugene F. Brigham, Joel F. Houston
Posted Date:
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