Question
A debt of $5,000 can be repaid, with interest of 8%, by the following schedule: (year1) $X; (year2) $1,000; (year3) $1,000; (year4) $2,000; (year5) $2080.
A debt of $5,000 can be repaid, with interest of 8%, by the following schedule: (year1) $X; (year2) $1,000; (year3) $1,000; (year4) $2,000; (year5) $2080. To the nearest $, what is X?
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Granularity Theory With Applications To Finance And Insurance
Authors: Patrick Gagliardini, Christian Gourieroux, Christian Gouriéroux
1st Edition
1316057135, 9781316057131
