A loan of 1000 in year 0 is paid back in equal end-of-year
A loan of $1,000 (in year 0) is paid back in equal, end-of-year payments of $125 (in years 1,2,…,n). Assuming an interest rate of 8.45%, roughly how many payments were made? (i.e., what is n?)
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a loan of 1000 in year 0 is paid back in equal end-of-year payments of 125 in years 12hellipn assuming an interest rate
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