Siran borrowed money from Chauncey and agreed to pay back $1,200 4 months from now and $1,700
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Siran borrowed money from Chauncey and agreed to pay back $1,200 4 months from now and $1,700 in 7 months. If Siran is unable to make these payments and instead wants to pay back the loan completely in 10 months, how much money would Siran have to pay Chauncey if money could earn 4.25% simple interest?
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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