Question: Without using Excel, please solve. A loan at i .05 is to be repaid by each starting one year after the loan. The borrower misses

Without using Excel, please solve.

A loan at i .05 is to be repaid by each starting one year after the loan. The borrower misses the th and 6th payments. He is told that if he pays 1.16p for each of the remaining payments, the loan will be repaid at the originally scheduled time. Find the number of payments on the original loan. Give a verbal explanation of the equation s2 =.16xawhich n level annual payments of arises in this situation

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