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You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $147 (first payment made at
You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $147 (first payment made at t = 1), followed by five annual payments of $457, followed by four annual payments of $716. How much did you borrow?
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
1st edition
1111822360, 978-1337116619, 1337116610, 978-1111822378, 1111822379, 978-1111822361
