Question
oan was advanced 3 loans: $6576.97 at the start of January, $8456.64 at the start of February and $9949.59 at the start of April. She
oan was advanced 3 loans: $6576.97 at the start of January, $8456.64 at the start of February and $9949.59 at the start of April. She expects to repay these debts with three equal payments: one at the start of September, one at the start of October and one at the start of December. Suppose the rate of interest is 6.31%. Use the start of October as a focal date.
Given that Total Debts = Total Repayments, what is the value of x - the unknown equal payment?
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Financial Accounting An Introduction
Authors: Jacqui Kew, Alex Watson
4th Edition
0199046484, 978-0199046485
