Loan payments of $3000 due one year ago and $2500 due in four years are to be
Question:
Loan payments of $3000 due one year ago and $2500 due in four years are to be replaced by two equal payments. The first replacement payment is due now and the second payment is due in six years. Determine the size of the two replacement payments if interest is 6.9% compounded monthly and the focal date is now.
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I Y 69 C Y 12 i 6912 0575 000575 E 1 300000100575 12 3000001071224 321367 E ...View the full answer
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