1. If a person borrows $9000 from his bank at 10% per year for five years how...

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1. If a person borrows $9000 from his bank at 10% per year for five years how much must he repay at that time if the

a) Interest is Compounded annually

b) Interest is compounded semi-annually.

Suppose the bank wanted three equal repayments at the end of each year. Assume interest is compounded semi-annually.

Related Book For answer-question

Fundamental Managerial Accounting Concepts

ISBN: 978-0078110894

6th Edition

Authors: Edmonds, Tsay, olds

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Posted Date: Apr 23, 2020 04:49 AM

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1. If a person borrows $9000 from his bank at 10% per year for five years how...

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Fundamental Managerial Accounting Concepts

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