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(1 point) (Exercise 5.20) A borrower is repaying a loan with 9 annual payments of $ 1200. Half of the loan is repaid by the
(1 point) (Exercise 5.20) A borrower is repaying a loan with 9 annual payments of $ 1200. Half of the loan is repaid by the amortization method at 5.6% effective. The other half of the loan is repaid by the sinking fund method in which the lender receives 5.6% on the investment and the sinking fund accumulates at 4.6% effective. Find the amount of the loan. Answer to the nearest dollar. ANSWER =$ Step by Step Solution
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Introduction To The Financial Management Of Healthcare Organizations
Authors: Michael Nowicki
7th Edition
156793904X, 9781567939040
