• Jonathon takes out a cash loan of $60,000. He agrees to pay back the loan with three payments as follows: $10,000 at the end of six months, ($10,000 + Y) at the end of 10 months and ($10,000 + 2Y) at the end of 18 months. What is the value of Y if r =5%? Use 10 months as your focal date.

  
  

Answer rating: 100% (QA)

Heres how to find the value of Y 1 Define variables P Present value of the loan 60000 r Interest rat... View the full answer