Today you lent money to a friend. They will pay you back with two payments. One year

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Today you lent money to a friend. They will pay you back with two payments. One year from now they will pay you $100. Three years from today they will pay you $500. You charged them a periodic annual interest rate of 4%. Today you lent them $________________ ( Round to the nearest penny.)

Posted Date: Jul 11, 2024 01:03 AM

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Today you lent money to a friend. They will pay you back with two payments. One year

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