2004 - YMCDN
(a) interest due and (b) paid-down principal (so that principal due = 0 after the last scheduled payment). Note rate is obtained using iterative calculations (e.g., solver in Excel). 7 Converting Debenture Rate to Note Rate (estimate using HP12c calculator) Assume 5.80% rate, $350,000 orig. prin., 20-yr. Inputs ................
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