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Corporate Fin Focused Approach
Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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A loan of $3000 is due in 5 years. If money is worth 4.8% compounded annually, find the equivalent payments that would settle the debt at the times shown below. (a) now (b) in 2 years (c) in 5 years (d) in 11 years ..... (a) The equivalent loan payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:A loan of $3000 is due in 5 years. If money is worth 4.8% compounded annually, find the equivalent payments that would settle the debt at the times shown below. (a) now (b) in 2 years (c) in 5 years (d) in 11 years ..... (a) The equivalent loan payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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