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2 (5 Marks) A student borrowed an educational loan of $100,000 at an interest rate of 10% per year and repaired equal payment of
2 (5 Marks) A student borrowed an educational loan of $100,000 at an interest rate of 10% per year and repaired equal payment of S1000 at the end of cach year starting from year 2 to year S The student has to repay the loan and interest over 6 vears. What is the amount that he has to repay by end of year 6? S100.000 $1000 $1000 1o00 $1000
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Engineering Economy
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
15th edition
132554909, 978-0132554909
