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Slide: 1 2 Ben is required to pay back a loan in two instalments: $ 2 8 0 0 in 5 months and $ 4
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Ben is required to pay back a loan in two instalments: $ in months and $ in months. He realized that he would not have the money to repay these amounts as scheduled but will be able to clear the loan with one single payment in months. What would be the value of this single payment if interest on the loan is pa Use months as the focal date.
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