Bryce has graduated and needs money for a new car A bank will lend Bryce the money if Bryce pays back within four years and Bryce pays a rate of interest that a bank would otherwise get by saving money at an account Bryce thinks that she will be able to pay 5000 in one year and then 8000 each year for the next three years If a bank would otherwise earn 6 per year on savings, how much can Bryce borrow from a bank If the bank lends the money and then deposits Bryces payments at the savings account, how much will the bank have four years from now Evaluate whether the bank will be willing to lend the money in exchange for promised payments

Question

Bryce has graduated and needs money for a new car  A bank will lend Bryce the money if Bryce pays back within four years and Bryce pays a rate of interest that a bank would otherwise get by saving money at an account  Bryce thinks that she will be able to pay 5000 in one year and then 8000 each year for the next three years  If a bank would otherwise earn 6  per year on savings, how much can Bryce borrow from a bank  If the bank lends the money and then deposits Bryces payments at the savings account, how much will the bank have four years from now  Evaluate whether the bank will be willing to lend the money in exchange for promised payments

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Bryce has graduated and needs money for a new car. A bank will lend Bryce the money if Bryce pays back within four years and

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