Question: HELP ASAP! - A person borrows $5,000 from a bank at an interest rate of 10%. caupounded yearly and paysit buck in 8 years. If
HELP ASAP!
- A person borrows $5,000 from a bank at an interest rate of 10%. caupounded yearly and paysit buck in 8 years. If the person makes the following payments starting at the end of the 2nd year to the end of 7th year: $500, $500 $475, $450, $425, $425, then what is the amount of the last payment so that the loan is paid off? Note: must ux discrete, uniform series and gradient series
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