A loan is repaid with the following strange series of payments: 1,2,3,4,...,27,28,29,30,29,28,27,...,3,2,1. The payments begin two years

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A loan is repaid with the following strange series of payments:

1,2,3,4,...,27,28,29,30,29,28,27,...,3,2,1.

The payments begin two years after the loan is made. Find the principal contained in the 27th payment, if the annual interest rate is 5%.

Related Book For answer-question

Physics

ISBN: 978-0321976444

5th edition

Authors: James S. Walker

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Posted Date: Aug 15, 2020 06:32 AM

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A loan is repaid with the following strange series of payments: 1,2,3,4,...,27,28,29,30,29,28,27,...,3,2,1. The payments begin two years

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Lets assume F to be 10000 formula p F 1in P 10000 100527 10000 10527 10000375 2666... View the full answer

Physics

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