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Paul borrows $4000 at a 7.5% simple interest rate. He is to repay the loan by $1000 at the end of the 3 months and
Paul borrows $4000 at a 7.5% simple interest rate. He is to repay the loan by $1000 at the end of the 3 months and two equal payments at the end of 6 months and 9 months. Determine the size of equal payments using
a) the end of 6 months as a focal date
b) the present time as a focal date
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