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Today, you borrow a sum of 10 000 euros. You will repay as follows 3,000 in 6 months 4 000 euros in 2 years
Today, you borrow a sum of 10 000 euros. You will repay as follows 3,000 in 6 months 4 000 euros in 2 years ' 2,000 in 2 years and 3 months The balance in 3 years Knowing that the annual effective rate of the loan is 5%, calculate the amount of the balance.
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Auditing & Assurance Services
Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau
8th Edition
978-1260703733, 1260703738
