Question
A loan of $A is taken out today at j4 = 6%, repaid over n-years with quarterly payments of $2793.28. The total amount of principal
A loan of $A is taken out today at j4 = 6%, repaid over n-years with quarterly payments of $2793.28. The total amount of principal repaid in the first 5 years (first 20 payments) is $26,436.83. What is A?
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-0176509736
