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Your company is planning to borrow $500,000 on a 10‐year, 10 percent, annual payment, fully amortized term loan. What is the annual payment?

Your company is planning to borrow $500,000 on a 10‐year, 10 percent, annual payment, fully amortized term loan. What is the annual payment?
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16 votes
Your company is planning to borrow $500,000 on a 10‐year, 10 percent, annual payment, fully amortized term loan. What is the annual payment?

User Kimerseen
by
7.9k points

1 Answer

12 votes
your payment would be 10 percent of 500000s plus
User Jagjit Singh
by
8.4k points
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