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Solve the following problems. Show all calculations and steps. 4. If you owe $40,000 payable at the end of seven years, what amount should your

Solve the following problems. Show all calculations and steps. image text in transcribed

4. If you owe $40,000 payable at the end of seven years, what amount should your creditor accept in payment immediately if he could earn 12% on his money

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