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A loan for a 5-year activity provides $10,000 per year to the borrower after the 1st, 2nd, and 3rd years. Then, the borr
Posted: Wed Jun 08, 2022 8:11 am
by answerhappygod
- A Loan For A 5 Year Activity Provides 10 000 Per Year To The Borrower After The 1st 2nd And 3rd Years Then The Borr 1 (41.69 KiB) Viewed 17 times
A loan for a 5-year activity provides $10,000 per year to the borrower after the 1st, 2nd, and 3rd years. Then, the borrower must repay the money at the end of the activity, i.e., after year 5.
Question. If the interest rate is i = 15%, how much should the borrower pay after year 5? $4,592 $3,450 $3,000 O $4,672