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please show ALL work with equations (no compounded table) and please show cash flow diagram. thanks! answer should be $2151 . John borrows($10.000 at 15%
please show ALL work with equations (no compounded table) and please show cash flow diagram. thanks! answer should be $2151
. John borrows($10.000 at 15% compounded annually did wishes to pay the loan back over a 5-year period with asurual payments. However, the second payment is Lo be $500 greater than the first paynic; the third payment is to be 5500 greater than the second-payment the fourth payment is to be $500 forester than the third payment: and the fifth payment is to be $300 greater than the fourth paymenit, Determine the size of the first paymeny Step by Step Solution
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