The maturity value of Sanjay's loan at the end of a five-year term is $41,442.39. If he
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The maturity value of Sanjay's loan at the end of a five-year term is $41,442.39. If he was charged an interest rate of 2.66% compounded monthly in the first year of the loan, 2.19% compounded annually in the next two years, and 3.15% compounded semi-annually in the last two years, what was the value of the loan?
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Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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