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Dawson wants to pay a $500 credit note that is due in 1 year. His creditor is will- ing to accept early payment of
Dawson wants to pay a $500 credit note that is due in 1 year. His creditor is will- ing to accept early payment of the loan by discounting it at 3.5% annual interest, com pounded monthly. How much can Dawson pay today to eliminate his debt?
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Differential Geometry
Authors: Erwin Kreyszig
1st Edition
486667219, 978-0486667218
