Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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You borrow $50, 000 for 5 years. This is an amortized load, meaning that payments are the same each month, and the loan is fully paid off with final payment. The quoted interest rate (or APR) in 12% per year. What is the monthly payment?
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