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1. A company takes out a loan of $50,000 at 6% interest. The term of the loan is seven years, with equal payments of $5000
1. A company takes out a loan of $50,000 at 6% interest. The term of the loan is seven years, with equal payments of $5000 at the end of the first through sixth years. The balance of the loan is due as a "balloon payment" at the end of the seventh year. Draw a cash flow diagram for this problem, assigning proper symbols to any unknown values. DO NOT solve for the unknowns
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Essential Mathematics For Economic Analysis
Authors: Knut Sydsaeter, Peter Hammond, Arne Strom
4th Edition
0273760688, 9780273760689
