You lend Jack $20,000 and he agrees to repay you in equal year-end amounts over 2 years.

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You lend Jack $20,000 and he agrees to repay you in equal year-end amounts over 2 years. If the interest rate is 10.9% per annum compounded quarterly,the annual repayment will be (rounded to nearest dollar; don't include the $ sign or commas):

Posted Date: May 19, 2024 03:10 AM

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You lend Jack $20,000 and he agrees to repay you in equal year-end amounts over 2 years.

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