iii) Someone borrows $ 45,000 at a rate of 20% per annum and after one year begins to pay annual installments he does. If a person wants to pay the mentioned amount in 5 equal annualinstallments, calculate the installment amount each year and draw a cash flow chart

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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iii) Someone borrows $ 45,000 at a rate of 20% per annum
and after one year begins to pay annualinstallments he
does. If a person wants to pay the mentioned amount
in 5 equal annualinstallments, calculate the installment
amount each year and draw a cash flow chart
Transcribed Image Text:iii) Someone borrows $ 45,000 at a rate of 20% per annum and after one year begins to pay annualinstallments he does. If a person wants to pay the mentioned amount in 5 equal annualinstallments, calculate the installment amount each year and draw a cash flow chart
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