Vijay borrowed $3000 that is to be settled in three installments as follows: first payment of $1000
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Vijay borrowed $3000 that is to be settled in three installments as follows: first payment of $1000 in six months and two equal payments, one in nine months and the other in one year. Calculate the value of each of the equal payments if the interest charged was 7.5% p.a. Let the focal date be the end of one year.
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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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