13. If you borrow $8,000 with a 5 percent interest rate to be repaid in five equal...
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13. If you borrow $8,000 with a 5 percent interest rate to be repaid in five equal payments at the end of the next five years, what would be the amount of each payment? (Note: Use the present value of an annuity table in the Chapter 1 Appendix.) (LO1.3)
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Focus On Personal Finance
ISBN: 9781259919657
6th Edition
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
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