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(Financial mathematics) A debt is paid in 10 annual payments of 10 million (total payment) which is divided into 2 ways as follows: 40% of
(Financial mathematics) A debt is paid in 10 annual payments of 10 million (total payment) which is divided into 2 ways as follows: 40% of the debt was paid using the amortization method with an effective interest rate of 5% per annum. The remainder is paid using the sinking fund method where the lender earn 6% effective annual interest on their investments and sinking funds accrues with an effective 4% annual interest. How much is the debt? please help, asap, i will definitely, upvote thank u
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