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1. zach tayloe is settling a $20,000 loan due today by making 6 equal annual payments of $4.727.53. determine the interest rate on this loan,
1. zach tayloe is settling a $20,000 loan due today by making 6 equal annual payments of $4.727.53. determine the interest rate on this loan, if they payments behin one year after the loan is signed.
2. consider the loan in question 1. what payments must zach taylor make to settle the loan at the same interest rate but with the 6 payments beginning on the day the loan is signed? 
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Auditing And Assurance Services An Integrated Approach
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
10th Edition
0131457349, 978-0131457348
