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(1) You've an inactive credit card with a $1500 outstanding unpaid balance. This partic- ular credit card charges interest at the rate of 24% compounded

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(1) You've an inactive credit card with a $1500 outstanding unpaid balance. This partic- ular credit card charges interest at the rate of 24% compounded monthly. You're able to make a payment of $500 two months from today. Find the amount that you will have to pay 5 months from today to completely pay off this credit card debt. (2) Let ;(12) = 18%. Find discount rate v. (3) At a certain interest rate the present value of the following two payment patterns are equal. (a) $200 at the end of 2 years plus $500 at the end of 4 years. (b) $400 at the end of 2 years. Find discount rate v

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