A loan of $4000 is due in five years. If money is worth 7% compounded annually, find

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A loan of $4000 is due in five years. If money is worth 7% compounded annually, find the equivalent payment that would settle the debt
(a) Now;
(b) In 2 years;
(c) In 5 years;
(d) In 10 years.

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

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

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Question Posted: Sep 21, 2024 05:19 AM

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A loan of $4000 is due in five years. If money is worth 7% compounded annually, find

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FV 4000 I Y 7 C Y 1 i 7 007 a E 400000107 5 4000000712...View the full answer

Contemporary Business Mathematics with Canadian Applications

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