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If It is hard to see just right click and open the image in a new window A demand loan of $6000.00 is repaid by
If It is hard to see just right click and open the image in a new window
A demand loan of $6000.00 is repaid by payments of $2500.00 after two years, $2500.00 after four years, and a final payment after six years. Interest is 7% compounded quarterly for the first two years, 8% compounded semi-annually for the next two years, and 8% compounded quarterly thereafter. What is the size of the final payment? The final payment is $0. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Step by Step Solution
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