bailey borrowed $4000 at prime plus 1.5% on January 5th of non leap yea. the loan require fixed monthly payment of $1000 on the first day of each month the prime rate was 13.5% on Jan 5th and increased to 14.25% effective Feb 15th and 14.75% effective of April 23rd, construct the loan repayment schedule

bailey borrowed $4000 at prime plus 1.5% on January 5th of non leap yea. the loan require fixed monthly payment of $1000 on the first day of each month the prime rate was 13.5% on Jan 5th and increased to 14.25% effective Feb 15th and 14.75% effective of April 23rd, construct the loan repayment schedule

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 16P

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