Louie borrowed $2,000 from Phil. Under this agreement, Louie would repay with $1,200 at t in...
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Louie borrowed $2,000 from Phil. Under this agreement, Louie would repay with $1,200 at t in years. Louie successfully made the payment in full at t = 1, but he faced some financial difficulty and was only able to pay 60% of what he owed at the time of the second payment. What was the annual interest rate for the original loan? What is Phil's annual yield for this four-year period? 1 and $1,700 at t = 4 where time is given Louie borrowed $2,000 from Phil. Under this agreement, Louie would repay with $1,200 at t in years. Louie successfully made the payment in full at t = 1, but he faced some financial difficulty and was only able to pay 60% of what he owed at the time of the second payment. What was the annual interest rate for the original loan? What is Phil's annual yield for this four-year period? 1 and $1,700 at t = 4 where time is given
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Cost Management Measuring Monitoring and Motivating Performance
ISBN: 978-0470769423
2nd edition
Authors: Leslie G. Eldenburg, Susan K. Wolcott
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