Mathematics, 06.11.2019 21:31, gracerhodes4305
Awoman arranges to repay a $1,000 bank loan in 10 equal payments at a 10% effective annual interest rate. immediately after her third payment she borrows another $500, also at 10% per year. when she borrows the $500, she talks the banker into letting her repay the remaining debt of the first loan and the entire amount of the second load in 12 equal annual payments. the first of these 12 2 payments would be made one year after she receives the $500. compute the amount of each of the 12 payments.
Answers: 2
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Awoman arranges to repay a $1,000 bank loan in 10 equal payments at a 10% effective annual interest...
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