Question
Jill borrows $24,000 from you today. She agrees to repay you in two equal amounts, the first to occur in 3 years from today and
Jill borrows $24,000 from you today. She agrees to repay you in two equal amounts, the first to occur in 3 years from today and the other in 7 years from today. If the interest rate is 11.3% per annum compounding monthly, what will be the amount of each repayment?
Select one:
a. $52739
b. $33632
c. $33090
d. $20536
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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N. Hyman
5th Edition
0030113172, 978-0030113178
