Question: 5. Jim borrows $5,000 from a bank now, an additional $3,000 one year from now and an additional $2,000 five years from now. At what

5. Jim borrows $5,000 from a bank now, an additional $3,000 one year from now and an additional $2,000 five years from now. At what point in time, t, would a single payment of $10,000 be equivalent at a nominal rate of interest of 12% convertible monthly? Select one: a. 1.0 years

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