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To borrow $1,700, you are offered an add-on interest loan at 8 percent. Two loan payments are to be made, one at six months and
| To borrow $1,700, you are offered an add-on interest loan at 8 percent. Two loan payments are to be made, one at six months and the other at the end of the year. Compute the two equal payments. |
| Two equal payments | $ |
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Financial Markets And Institutions
Authors: Jeff Madura
6th Edition
0324162618, 978-0324162615
