Question: Calculations and the equations used to solve this question will be best thank you! Mr. Lewis borrows $10,000 on January 1, 2016. He begins to

Calculations and the equations used to solve this question will be

Calculations and the equations used to solve this question will be best thank you!

Mr. Lewis borrows $10,000 on January 1, 2016. He begins to repay the loan as follows: Jan 1, 2017 $1,000 Jan 1, 2018 $1,000 Jan 1, 2019 $1,000 On July 1, 2019, he makes an additional payment of $5,000. Mr. Lewis makes no further payments. You may assumed(4) 0.08. Determine how much Mr. Lewis owes on this loan as of January 1, 2025

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