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Chuck Ponzi has talked an elderly woman into loaning him $ 2 5 , 0 0 0 for a new business venture. She has ,
Chuck Ponzi has talked an elderly woman into loaning him $ for a new business venture. Shehas however, successfully passed a finance class and requires Chuck to sign a binding contract on repayment of the $ with an annual interest rate of over the next years. Determine the cash flow to the woman under aninterestonly loan, in which Ponzi will pay the annual interest expense each year and pay the principal back at the end of the contract.
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