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2. A S3000 loan on March I was repaid by payments of S500 on March 31, S1000 on June 15 and final payment on August

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2. A S3000 loan on March I was repaid by payments of S500 on March 31, S1000 on June 15 and final payment on August 31. What was the final payment if the interest rate on the loan was 4.25% (8 marks) A contract requires payments of $1500, $2000. $1000 in 6 wecks. Swecks and 10 wecks respectively from today. What is the value of the contract today if the payments are discounted at rate of 10.5%

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