Question
You have borrowed $4670 from you dad to purchase a second-hand car and have agreed to re-pay your dad a lump sum amount in five
You have borrowed $4670 from you dad to purchase a second-hand car and have agreed to re-pay your dad a lump sum amount in five years time with interest being charged at a rate of 4.88% p.a., compounded daily. What amount will you pay your dad in five years time?
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
11th Canadian Edition
1259024970, 978-1259265921
