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Suppose that an engineering student gets a student loan for his/her five-year university education. Suppose that it is being paid to the student at the

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Suppose that an engineering student gets a student loan for his/her five-year university education. Suppose that it is being paid to the student at the end of each month starting from September 2020. He/she is being paid 550TL per month for year 2020 and the monthly paid loan value increases by 100TL each year. Assuming that annual interest rate is given by 12% (constant), and it will be compounded per year in all the calculations, answer the followings: a) Find the value he/she has to pay it back in a single payment in year 2027 (Sketch the cash-flow diagram). b) Find the value he/she has to pay it back in a 5 equal annual payments starting from year 2027 (Sketch the cash-flow diagram) Suppose that an engineering student gets a student loan for his/her five-year university education. Suppose that it is being paid to the student at the end of each month starting from September 2020. He/she is being paid 550TL per month for year 2020 and the monthly paid loan value increases by 100TL each year. Assuming that annual interest rate is given by 12% (constant), and it will be compounded per year in all the calculations, answer the followings: a) Find the value he/she has to pay it back in a single payment in year 2027 (Sketch the cash-flow diagram). b) Find the value he/she has to pay it back in a 5 equal annual payments starting from year 2027 (Sketch the cash-flow diagram)

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