Question
Peggy has never made any payments on a 5-year-old loan from her mother at 6% compounded annually. The total interest owed is now $845.56. To
Peggy has never made any payments on a 5-year-old loan from her mother at 6%
compounded annually. The total interest owed is now $845.56. To the nearest dollar, how much
did she borrow from her mother?
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Fundamentals of Investments, Valuation and Management
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
8th edition
1259720697, 1259720691, 1260109437, 9781260109436, 978-1259720697
