- 1 Point Charlie Borrowed 195000 Today The Interest Rate On The Loan Is J 5 For The First 5 Years Then It Change 1 (36.93 KiB) Viewed 33 times
= (1 point) Charlie borrowed $195000 today. The interest rate on the loan is j₁ 5% for the first 5 years, then it change
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= (1 point) Charlie borrowed $195000 today. The interest rate on the loan is j₁ 5% for the first 5 years, then it change
= (1 point) Charlie borrowed $195000 today. The interest rate on the loan is j₁ 5% for the first 5 years, then it changes to j₁ = 8.1% thereafter. To repay the loan, Charlie makes yearly payments of R dollars (in the end of year) from year 3 to year 12. What is R? Answer: $34381.58