You borrowed $100,000 at an interest rate of 4%, with constant annual payments of both principal and interest over 15 years. Part 1 What is your annual payment? B Attempt 3/5 for 8-

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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You borrowed $100,000 at an interest rate of 4%, with constant annual payments of both
principal and interest over 15 years.
Part 1
What is your annual payment?
BAttempt 3/5 for 8
Transcribed Image Text:You borrowed $100,000 at an interest rate of 4%, with constant annual payments of both principal and interest over 15 years. Part 1 What is your annual payment? BAttempt 3/5 for 8
What is the outstanding balance after 5 years?
0+ decimals
Transcribed Image Text:What is the outstanding balance after 5 years? 0+ decimals
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