A loan of $1580 bearing interest at 15% is due nine months from now. What single payment

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A loan of $1580 bearing interest at 15% is due nine months from now. What single payment three months before the loan is due will put the lender in the same financial position as the scheduled payment at maturity? Assume that money can earn 12%.

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Financial Accounting A User Perspective

ISBN: 978-0470676608

6th Canadian Edition

Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry

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Posted Date: Jan 17, 2021 02:48 PM

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A loan of $1580 bearing interest at 15% is due nine months from now. What single payment

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Simple interestC1ni c1580 n075... View the full answer

Financial Accounting A User Perspective

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