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Suppose that you borrow $6,694 now, promising to repay the loan principal plus accumulated interests in 5 years at interest rate i = 5.3%
Suppose that you borrow $6,694 now, promising to repay the loan principal plus accumulated interests in 5 years at interest rate i = 5.3% per year. How much would you repay at the end of 5 years?
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To calculate the total amount you would repay at the end of 5 years you can use the formula for ...
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
