A loan of $ 1,000 is being paid with annuities of $ 80 at an interest rate of 5. One year after the loan is actually paid, if after 7 payments it is agreed that the rest of the debt will be covered with two One-time equal payments at the end of year 9 and 11. How much are these payments so that the debt is paid off entirely
A loan of $ 1,000 is being paid with annuities of $ 80 at an interest rate of 5. One year after the loan is actually paid, if after 7 payments it is agreed that the rest of the debt will be covered with two One-time equal payments at the end of year 9 and 11. How much are these payments so that the debt is paid off entirely
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 18P
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