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show timeline diagrams and equations Madison borrows $60,000 from Maggie at an effective cannual interest rate of 4.75% The loan is to be repaid with
show timeline diagrams and equations
Madison borrows $60,000 from Maggie at an effective cannual interest rate of 4.75% The loan is to be repaid with 30 annual payments at the end of each year. The first 13 payments are (x+400) and the last 17 payments are x. a) cakulate X tu b) calculate the modified duration of the loan c) After rece receiving the 13th payment, Maggie sells the right to collect future payments to bella aut price P. Maggy earns an overall effective annual yild of 5,50%, Calculate P. thStep by Step Solution
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