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Please give me detailed solution of this problem. (AMS 318 book: Mathematical Interest Theory Second Edition) Suppose Rob loans Roy 7,000 at t = 0,

Please give me detailed solution of this problem. (AMS 318 book: Mathematical Interest Theory Second Edition)

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Suppose Rob loans Roy 7,000 at t = 0, which is repaid by payments of 2,000 at t = 1, and 3,000 at t = 2,3. Rob immediately reinvests all payments he receives into an account earning nominal interest rate 6% convertible semiannually. Find the an expression for AEIR, i, paid by Roy (there is no need to evaluate it.) Also find the APY, j, earned by Rob to the nearest 10th percent

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