Question: 2 . 2 . Timo has two loans with a bank. N $ 2 5 0 0 0 due in 8 months and N $

2.2. Timo has two loans with a bank. N$25000 due in 8 months and N$13000 due in 15 months. He arranged with the bank to pay off these debts with a single payment and they agreed that 13% annual interest rate compounded monthly applies. What is the single payment?
a) Now
b) In 6 months
[6]
2 . 2 . Timo has two loans with a bank. N $ 2 5 0

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