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A debt of $10,000 is to be repaid with quarterly installments of $4,000, $3,000, $2,000, $1,000 plus a final payment which pays off the loan
A debt of $10,000 is to be repaid with quarterly installments of $4,000,
$3,000, $2,000, $1,000 plus a final payment which pays off the loan after
5 quarters. Interest rate is 12% compounded quarterly. Find the outstanding
loan balance after the second payment.
$3,000, $2,000, $1,000 plus a final payment which pays off the loan after
5 quarters. Interest rate is 12% compounded quarterly. Find the outstanding
loan balance after the second payment.
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Finite Mathematics and Its Applications
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
12th edition
978-0134768588, 9780134437767, 134768582, 134437764, 978-0134768632
