Allan borrowed $ 400000 on January 1, 1976, which was to be re- paid in 360 level monthly installments at a nominal annu

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Allan borrowed $ 400000 on January 1, 1976, which was to be re- paid in 360 level monthly installments at a nominal annu

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Allan Borrowed 400000 On January 1 1976 Which Was To Be Re Paid In 360 Level Monthly Installments At A Nominal Annu 1
Allan Borrowed 400000 On January 1 1976 Which Was To Be Re Paid In 360 Level Monthly Installments At A Nominal Annu 1 (294.07 KiB) Viewed 30 times
Allan borrowed $ 400000 on January 1, 1976, which was to be re- paid in 360 level monthly installments at a nominal annual interest rate of 11 % convertible monthly. The first monthly payment was due February 1, 1976. Allan missed the first payment, but began making payments on March 1, 1976, and he made 359 payments. Determine how much Allan owed on the loan after making his 359 th payment. How much owed after the 359-th payment $ Was
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