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- 2011-5-23
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Five years ago, an investor borrowed $5000 from a financial institution that charged 6% annual interest and immediately took his family to live in Nerpal. He made no payments during the time he was away. When he returned, he agreed to repay the orinignal loan pluis the accrued interest by making 4 endofyear payments starting one hear after he returned. If the ineetest erate on the loan is held constant at 6% per year, what annual payment must the investor make in order to retire the laon?
A 1338.23
B 1588.45
C 1638. 23 |
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发表于 2011-7-13 16:55
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