Question: (1 point) Problem 9 - Unknown Time & Unknown Interest Rate At an effective annual interest rate of 5%, a loan is being repaid with

(1 point) Problem 9 - Unknown Time & Unknown Interest Rate

(1 point) Problem 9 - Unknown Time & Unknown Interest Rate At an effective annual interest rate of 5%, a loan is being repaid with 3 payments: a payment of 3000 at the end of 10 years, a payment of 7000 at the end of 20 years, and a payment of 10000 at the end of 30 years. Use the method of equated time to approximate the time T the borrower could repay the n with a single payment of 20000. T=

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