Question
You are loaned $300 at the end of years 1, 2, and 3. You pay this loan back with payments of X at the end
You are loaned $300 at the end of years 1, 2, and 3. You pay this loan back with payments of X at the end of year 5, and $300 at the end of years 4, 6, and 7. Find X if the effective annual interest rate i = .07
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
