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A man borrowed $2000 from a bank at 12% annual interest rate, compounded quarterly. He agreed to repay the loan in two end-of-year payment. At
A man borrowed $2000 from a bank at 12% annual interest rate, compounded quarterly. He agreed to repay the loan in two end-of-year payment. At the end of each year, he will pay half of the $2000 principal amount plus the interest that is due. Fill in the table below for the borrower's cash flow 3, End of year 0 (now) Cash Flow 2
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