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Question: In a civil case, a plaintiff is awarded a judgment of $50,000 for damages. The defendant is required to pay an annual interest
Question: In a civil case, a plaintiff is awarded a judgment of $50,000 for damages. The defendant is required to pay an annual interest rate of 5% on the judgment amount until it is fully satisfied. If the defendant makes annual payments of $10,000 towards the judgment, how many years will it take to fully satisfy the judgment?
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
