You want to use a 50 thousand Euro loan from your bank for the annual repair and maintenance costs of the devices in your factory. a) If you bought this loan for 4 years with 3% monthly interest, how many Euro monthly installments would you pay? b) If you had taken this loan with 3% monthly interest, with a total maturity of 4 years with no repayments for the first 2 years, how many Euro monthly installments would you pay?
You want to use a 50 thousand Euro loan from your bank for the annual repair and maintenance costs of the devices in your factory. a) If you bought this loan for 4 years with 3% monthly interest, how many Euro monthly installments would you pay? b) If you had taken this loan with 3% monthly interest, with a total maturity of 4 years with no repayments for the first 2 years, how many Euro monthly installments would you pay?
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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