hard · Private Credit & Debt
A borrower has 200.0 million in debt at a 5.0% constant total payment (mortgage-style) amortization over 5 years.
If the annual payment is 5.01 million, what is the approximate remaining principal balance at the end of Year 1?
- 16.59 million
- 14.99 million
- 18.40 million
- 16.00 million
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