What equal payments in 2 years and 4 years would replace payments of $32, 500 and $72, 500 in 7 years and 8 years, respectively? Assume money can earn 3.96% compounded quarterly. Use 8 years as the focal date
What equal payments in 2 years and 4 years would replace payments of $32, 500 and $72, 500 in 7 years and 8 years, respectively? Assume money can earn 3.96% compounded quarterly. Use 8 years as the focal date
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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What equal payments in 2 years and 4 years would replace payments of $32, 500 and $72, 500 in 7 years and 8 years, respectively? Assume money can earn 3.96% compounded quarterly. Use 8 years as the focal date.
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