Question No 21:
A fixed-interest $200,000 mortgage, with annual interest compounded at 6% each year, is to be repaid by 15 equal year-end repayments of $R.
The annual repayment $R will be closest to
A. $14,133.
B. $20,593.
C. $31,954.
D. $83,400.
Answer: B
No comments:
Post a Comment