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Charlie borrowed $100000 today. The interest rate on the loan is j1 = 4.2% for the first 5 years, then it changes to ji =
Charlie borrowed $100000 today. The interest rate on the loan is j1 = 4.2% for the first 5 years, then it changes to ji = 8% thereafter. To repay the loan, Charlie makes yearly payments of R dollars (in the end of year) from year 3 to year 11. What is R? O $15848.96 $24912.42 $ $17902.33 $30172.80 $20021.81 Stephanie collects an inheritance of $500000. She takes 30% in cash and invests the balance at ji = 7% with the intention of withdrawing 16 annual payments with the first payment in 3 years. What is the size of the payments she is able to withdraw? $42418.75 $69102.34 $40124.38 $78142.03 $53613.52
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