The Ram Company borrowed $20 000 at 10% compounded semi-annually and made payments toward the loan of

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The Ram Company borrowed $20 000 at 10% compounded semi-annually and made payments toward the loan of $8000 after two years and $10 000 after three-and-a-half years. How much is required to pay off the loan one year after the second payment?

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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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The Ram Company borrowed $20 000 at 10% compounded semi-annually and made payments toward the loan of

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Accumulatedvalue after two years 2000000105 4 20 000001215506 24 310125 Balanceafter paym...View the full answer

Contemporary Business Mathematics with Canadian Applications

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