Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question

Suppose you borrow $70,000 at 5.25% annual interest to be repaid with a fully amortized plan over 14 years (equal end-of-year payments). What is the annual payment? 

What is the total amount of principal and interest paid?

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