question archive Assume a coupon of 6%
Assume a coupon of 6%
Subject:FinancePrice:2.86 Bought32
Assume a coupon of 6%. You borrow $10 million from the bank and you make quarterly payments over 8 years. There is a balloon payment of $1,000,000 at the end of year 8. Determine annual interest and principal payment for year 5.
