You borrowed some money at 8 percent per annum. You repay the loan by making three annual
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You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $ 210 (first payment made at t = 1), followed by five annual payments of $ 411 , followed by four annual payments of $ 811 . How much did you borrow?
Related Book For
Fundamentals of Financial Management
ISBN: 9780273713630
13th Revised edition
Authors: James van Horne, John Wachowicz
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