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A loan of 12 000 is repaid by 36 monthly payments starting one month after the loan. The first 12 payments are 395+X each,
A loan of 12 000 is repaid by 36 monthly payments starting one month after the loan. The first 12 payments are 395+X each, the next 12 payments are 395 each, and the final 12 payments are 395-X each. If r2 12%, find X. [10] M
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Management Accounting
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
7th Edition
978-1760421144, 1760421146
