SOLUTION: A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective annual interest rate of 9 %. Determine the year in which the interest portion of the payment i
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Question 1206610: A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective annual interest rate of 9 %. Determine the year in which the interest portion of the payment is most nearly equal to one-fifth of the payment.
The year that the interest portion of payment is most nearly equal to one-fifth of the payment is?? Answer by ikleyn(52803) (Show Source):
