You have a loan outstanding. It requires making 4 annual payments at the end of the next4years of$ 1,000each. Your bank has offered to allow you to skip making the next 3 payments in lieu of making one large payment at the end of the? loan’s term in4years. If the interest rate on the loan is6.94 %what final payment will the bank require you to make so that it is indifferent between the two forms of? payment?
3 Simple steps to get your paper done |
||
Step 1 |
Step 2 |
Step 3 |
| Place Order | Down to work | Paper is Ready! |
|
Takes just a few minutes! |
Best writer takes the order |
Access via your account |