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2. You are borrowing money today at a 7.5% interest rate You will repay the principal plus all the interest in one lump sum
2. You are borrowing money today at a 7.5% interest rate You will repay the principal plus all the interest in one lump sum of $7,100 two years from today. What is the amount of the loan proceeds? A. $6,003.47 D. $6,418.30 B. $6,143.86 E. $6,489.99 C. $6,250.00
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Cornerstones of managerial accounting
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
5th edition
978-1305302327, 130530232X, 978-1133943983
