You borrowed $P from a friend and made 4 payments (5th payment was from your friend...
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You borrowed $P from a friend and made 4 payments (5th payment was from your friend to settle over-payment on the loan). Given the cash flow table below, determine the value of P using an interest rate of 8%. Round your answer to 1 decimal place. Year 0 1 2 3 4 5 Cash Flow P -1000 -2000 -3000 -4000 1000 You borrowed $P from a friend and made 4 payments (5th payment was from your friend to settle over-payment on the loan). Given the cash flow table below, determine the value of P using an interest rate of 8%. Round your answer to 1 decimal place. Year 0 1 2 3 4 5 Cash Flow P -1000 -2000 -3000 -4000 1000
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