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Please fill in the blanks (1), (2). Thank you! Assume that you borrow 1 million JPY from some bank under the system of 5% yearly
Please fill in the blanks (1), (2). Thank you!
Assume that you borrow 1 million JPY from some bank under the system of 5% yearly compound interest, and repay under the plan of total equally payment. Now, we calculate the common annual payment C JPY to pay off at 25 years later. (1+ico) N Calculate (1+ion)N-1'100=you can calculate (1+imo)N-1 Also. (1+) N-1-1 100 P =you can calculate Moreover, C should be integer. Therefore, it satisfiesStep by Step Solution
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