A loan of $1475 taken out on June 7 requires three payments. The first payment is due

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A loan of $1475 taken out on June 7 requires three payments. The first payment is due on July 7. The second payment is twice as large as the first payment and is due on August 19. The final payment due on November 2 is three times as large as the first payment. If the focal date is June 7, what is the size of each of the three payments at an interest rate of 4.6%?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0134141084

11th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs

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