Question
A debt of ${5000} due in four years and ${6000} due in five years is to be repaid by a single payment of ${4500} now
A debt of ${5000} due in four years and ${6000} due in five years is to be repaid by a single payment of ${4500} now and two equal payments that are due each consecutive year from now. If the interest rate is {14}% compounded annually, how much are each of the equal payments?
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Auditing An International Approach
Authors: Wally J. Smieliauskas, Kathryn Bewley
6th edition
978-0070968295, 9781259087462, 978-0071051415
