Mathematics, 03.10.2019 03:30 xeno777
a loan of $100,000 is made today. the borrower will make equal repayments of $3568 per month with the first payment being exactly one month from today. the interest being charged on this loan is constant (but unknown).
for the following two scenarios, calculate the interest rate being charged on this loan, expressed as a nominal annual rate in percentage:
(a) the loan is fully repaid exactly after 33 monthly repayments, i. e., the loan outstanding immediately after 33 repayments is exactly 0.
Answers: 3
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a loan of $100,000 is made today. the borrower will make equal repayments of $3568 per month with th...
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