o repay a $400,000 loan you are required to make sixteen equal-sized repayments every six months. If the loan's interest rate is 5% p.a. compounded half-yearly, how much interest is paid in the first period? Group of answer choices $30,639.60 $20,639.60 $10,000.00 $20,000.00
o repay a $400,000 loan you are required to make sixteen equal-sized repayments every six months. If the loan's interest rate is 5% p.a. compounded half-yearly, how much interest is paid in the first period? Group of answer choices $30,639.60 $20,639.60 $10,000.00 $20,000.00
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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To repay a $400,000 loan you are required to make sixteen equal-sized repayments every six months. If the loan's interest rate is 5% p.a. compounded half-yearly, how much interest is paid in the first period?
Group of answer choices
$30,639.60
$20,639.60
$10,000.00
$20,000.00
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