You borrow $50,000 repayable in monthly installments over 10 years. The nominal interest rate is 12% per
Question:
1) What would be the new monthly repayment?
2) What would be the new loan term?
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1 The EMI of the loan is found using pmt function pmt rate N per PV fv ...View the full answer
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Related Book For
Macroeconomics
ISBN: 978-1464168505
5th Canadian Edition
Authors: N. Gregory Mankiw, William M. Scarth
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