What Is the Size of the Final Unequal Payment of a Loan

question 105

Multiple Choice

What is the size of the final unequal payment of a loan that has 69.47 payments and the equal payment size is $215.64? The interest rate is 3.1% per compounding period.

• A) $120.17
• B) $210.17
• C) $102.17
• D) $99.10
• E) $99.17

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Definitions:

Triangle Arbitrage

A practice of profiting from the price differential between three different currencies in the foreign exchange market.

Forward Trades

Non-standardized contracts between two parties to buy or sell an asset at a specified future date for a price agreed upon today.

Forward Market

A platform for trading financial agreements that are negotiated presently but fulfilled in the future.

Collection Float

The time gap between when a check is deposited and when funds are made available in the account, affecting the company's cash flow.