To pay off the loan of $50 000 at 12% p.a. compounding monthly, Ms. Yee agrees to

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To pay off the loan of $50 000 at 12% p.a. compounding monthly, Ms. Yee agrees to make three payments in 2, 5 and 10 months respectively. The second payment is to be double the first, and the third payment is to be triple the first.

What is the size of each payment? Show all working out.

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Personal Finance

ISBN: 978-0132994347

5th edition

Authors: Jeff Madura

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Posted Date: Aug 02, 2018 01:42 AM

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To pay off the loan of $50 000 at 12% p.a. compounding monthly, Ms. Yee agrees to

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Given Information Loan Amount 50000 Interest Rate 12 pa compounded monthly Monthly Interest Rate 121... View the full answer

Personal Finance

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