Mathematics, 18.01.2021 14:00 nathanowens121224
A 5-year loan of 500,000 with an annual effective discount rate of 8% is to be repaid by level end-of-year payments. If the first four payments had been rounded up to the next multiple of 1,000, the final payment would be X. Calculate X.
a. 103,500
b. 111,700
c. 115,200
d. 125,200
e. 127,500
Answers: 2
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