You have just signed up for a very strange loan - one that is amortized on a WEEKLY basis (i.e. yc make weekly principal and interest payments). The loan is for $1,000 at an annual interest rate of 5.2%. If you make weekly payments over the course of a year (i.e. 52 weeks), what is your weekly payment amount? O 19.01 O 19.74 19.58 20.23 19.23

You have just signed up for a very strange loan - one that is amortized on a WEEKLY basis (i.e. yc make weekly principal and interest payments). The loan is for $1,000 at an annual interest rate of 5.2%. If you make weekly payments over the course of a year (i.e. 52 weeks), what is your weekly payment amount? O 19.01 O 19.74 19.58 20.23 19.23

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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