Justin loaned Leroy $8000 at 4.5% compounded semi-annually for sixteen months. Leroy agrees to pay $2000 in
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Justin loaned Leroy $8000 at 4.5% compounded semi-annually for sixteen months. Leroy agrees to pay $2000 in one year and the balance in two years. If money is worth 4.10% compounded quarterly, calculate the payment two years from now that will reduce the debt to zero.
AppendixLO1
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Related Book For
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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