You have a debt of $10,000, which is scheduled to be repaid at the end of 10
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You have a debt of $10,000, which is scheduled to be repaid at the end of 10 years. If you want to repay your debt now, how much should your creditor demand if the prevailing annual interest rate is:
a. 7% compounded monthly
b. 6% compounded continuously
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The present value of 10000 pay...View the full answer
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Related Book For 
Calculus For Business, Economics And The Social And Life Sciences
ISBN: 9780073532387
11th Brief Edition
Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price
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