Answered: John borrowed a certain amount of money…

John borrowed a certain amount of money from Tebogo at a simple interest rate of 8,7% per year. After five years John owes Tebogo R10 000,00. Calculate how much money John initially borrowed

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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John borrowed a certain amount of money from Tebogo at a simple interest rate of 8,7% per year.

After five years John owes Tebogo R10 000,00. Calculate how much money John initially borrowed

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