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A loan of 1000 at a nominal rate of 12% convertible monthly is to be repaid by six monthly payments beginning at the end of
A loan of 1000 at a nominal rate of 12% convertible monthly is to be repaid by six monthly payments beginning at the end of 1 month. The first three payments are x each, while the final three payments are 3x each. Determine the sum of the principal repaid in the third payment and the interest paid in the fifth payment
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Essentials Of Real Estate Finance
Authors: David Sirota
11th Edition
1419520911, 9781419520914
