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Question 10 A local firm sponsors a student loan program for the children of employees. No interest is charged until graduation, and then the interest
Question 10 A local firm sponsors a student loan program for the children of employees. No interest is charged until graduation, and then the interest rate is 5%. Maria borrows $9000 per year, and sh ates after 4 years. Since tuition must be paid ahead of time, assume that she borrows the money at the start of each year e gradu- If Maria when she started borrowing the rate of return for Maria's loan. Is this arrangement attractive to Maria? makes five equal annual payments, what is each payment? Use the cash flow from money to when it is all paid back, and then calculate the internal 3,000 (AIP,510,5):30,00o(23,au
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