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[ Ch 5 ] You have a loan outstanding requiring three annual payments at the end of the next three years of $ 5 ,
Ch You have a loan outstanding requiring three annual payments at the end of the next three years of $$ and $ respectively payment plan A Your bank has offered to allow you to skip making the first two payments and instead make a single large payment in three years payment plan B If the interest rate on the loan is per year, compounded annually, what final payment will the bank require so that it is indifferent between the two payment plans? to nearest $
Ch You have a loan outstanding requiring three annual payments at the end of the next three years of $$ and $ respectively payment plan A Your bank has offered to allow you to skip making the first two payments and instead make a single large payment in three years payment plan B If the interest rate on the loan is per year, compounded annually, what final payment will the bank require so that it is indifferent between the two payment plans?
to nearest $
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