SOLUTION: A loan of $10000 is amortized by equal annual payments for 30 years at an effective annual interest rate of 10%. Determine the year in which the portion of the payment is most near
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Question 1206627: A loan of $10000 is amortized by equal annual payments for 30 years at an effective annual interest rate of 10%. Determine the year in which the portion of the payment is most nearly equal to one fourth of the payment
Answer by ikleyn(52794) (Show Source): You can put this solution on YOUR website!
.
a TWIN problem is just solved under this link
https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1206656.html
Consider it as your TEMPLATE and solve this current problem in the same way.
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