MAT133Y1 Lecture Notes - Lecture 5: The Borrower, Nominal Interest Rate, Brie
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MAT133Y1 Full Course Notes
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Supplementary questions for hp chapter 5 and sections 1 and 2 of the. Credit for six months will no longer be available, but for three months credit a discount of 27. 5% below the recommended retail price will be allowed. The lender had the right to alter the conditions of the loan at any time, and immediately after the 87th payment had been made, the e ective rate was increased to 10%. The rst payment, at the end of the rst year, is , 000 and the following payments increase by each year. August 1st, 2004, the rst payment on november 1st, 1985. In addition, he will receive in return for every of the loan at the end of the seven years. If the terms of the loan are altered so that repayment will be by a single sum of.
