Answer to Question #149179 in Macroeconomics for MARIAM ZOMBAGA

Question

Suppose that one has a present loan of $1,000 and desires to determine what equivalent uniform EOY payments, A, could be obtained from it for 23 years if the nominal interest rate is 11.9% compounded continuously (M =∞).

Answer 1

$$1,000\times (1+0.119)^{23}=13,277$$