= (1 point) Charlie borrowed $195000 today. The interest rate on the loan is j₁ 5% for the first 5 years, then it change
Posted: Sun Jun 05, 2022 7:29 am
= (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