Hey everyone, im having a bit of trouble remembering how to do these questions from corporate finance
A 29 year old loan requires weekly payments of 125.43 including interest at 24.50% compounded weekly.
a) What was the original amount of the loan?
b) What is the loan's balance 23.00 years later (just after the schedualed payment)?
I have a texes instruments BAII Plus calculator so im able to use that to do the calculations
Thanks in advance
So far I have:
PV = Compute
I/Y = 24.50
N = 52*29 = 1508? (compounded weekly)
PMT = 125.43
FV = no clue how to calculate this