A bank is offering aloan of 25000 with a nominal interest, Econometrics

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A bank is offering aloan of 25000 with a nominal interest

A bank is offering aloan of $25,000 with a nominal interest rate of 18% compoundedmonthly, payable in 60 months. (Hint: The loan origination fee of2% will be taken out from the loan amount.)

a) What is the monthly payment?

b) If a loan origination fee of 2% is charged at the time of theloan, What is the monthly payment?

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Econometrics: A bank is offering aloan of 25000 with a nominal interest

Reference No:- TGS0582436

Have a Question? (oR Write a Review)

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Ask an Expert for Answer!!

Econometrics: A bank is offering aloan of 25000 with a nominal interest

Reference No:- TGS0582436

Recent Questions Asked Econometrics

Q : The data are shown below generate a 95 confidence interval

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