To borrow $800, you are offered an add-on interest loan at 7 percent. Three loan payments are

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To borrow $800, you are offered an add-on interest loan at 7 percent. Three loan payments are to be made, one at four months, another at eight months, and the last one at the end of the year. Compute the three equal payments.

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Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

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Question Posted: Sep 23, 2014 10:28 AM

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To borrow $800, you are offered an add-on interest loan at 7 percent. Three loan payments are

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Finance Applications and Theory

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