Business, 28.01.2022 14:00 rleiphart1
You are considering borrowing $100,000 for 30 years at a compound annual interest rate of 9%. The loan agreement calls for 30 equal annual payments, to be paid at the end of each of the next 30 years. (Payments include both principal and interest.)
Required:
What is the annual payment that will fully amortize the loan?
Answers: 1
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