A debt of $5700 is due, with interest at j2 = 8%, in three years. It is

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A debt of $5700 is due, with interest at j2 = 8%, in three years. It is agreed instead that the loan will be repaid with a payment of $X in one year and $3000 in two years. If money is worth j4 = 4%, what is the value of X

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College Algebra

ISBN: 9780135226865

11th Edition

Authors: Michael Sullivan, Michael Sullivan III

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Posted Date: May 08, 2024 09:24 PM

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A debt of $5700 is due, with interest at j2 = 8%, in three years. It is

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To solve this problem we can use the concept of present valu... View the full answer

College Algebra

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