You have loaned money to three of your friends. Friend A has promised to pay you back

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You have loaned money to three of your friends. Friend A has promised to pay you back R300 in one year, friend B has promised to pay you back R140 in two years and friend C has promised to pay you back R290 in three years. If the present value of all three loans is R585.88, calculate how much the values of your loans will change by if interest rates increase by 1%.

Posted Date: May 19, 2024 06:01 AM

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You have loaned money to three of your friends. Friend A has promised to pay you back

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