Question
A demand loan of $6000.00 is repaid by payments of $3000.00 after two years, $3000.00 after four years, and a final payment after eight years.
A demand loan of $6000.00 is repaid by payments of $3000.00 after two years, $3000.00 after four years, and a final payment after eight years. Interest is 5% compounded monthly for the first two years, 6% compounded annually for the next two years, and 6% compounded semi-annually thereafter. What is the size of the final payment?
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International Financial Reporting Standards An Introduction
Authors: Belverd E. Needles, Marian Powers
3rd Edition
1133187943, 978-1133187943
