New Scenario (Independent): Brian takes out a home loan of $473,800 today. He wants to make equal yearly repayments $47,380 starting one year from today. The interest rate is 7.4 % p.a. compounded weekly. Calculate the number of yearly repayments (including the final smaller repayment) Brian needs to make to fully repay the loan.

New Scenario (Independent): Brian takes out a home loan of $473,800 today. He wants to make equal yearly repayments $47,380 starting one year from today. The interest rate is 7.4 % p.a. compounded weekly. Calculate the number of yearly repayments (including the final smaller repayment) Brian needs to make to fully repay the loan.

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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