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At an effective annual interest rate of 3%, a loan is being repaid with 3 payments: a payment of 2000 at the end of 10
At an effective annual interest rate of 3%, a loan is being repaid with 3 payments: a payment of 2000 at the end of 10 years, a payment of 6000 at the end of 20 years, and a payment of 9000 at the end of 30 years. At what time I could the borrower repay the loan with a single payment of 17000. T = 10.21
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