Suppose that you borrow $8,000 now, promising to repay the loan principal plus accumulated interest in four years at i = 10% per year. How much would you repay at the end of four years?
Suppose that you borrow $8,000 now, promising to repay the loan principal plus accumulated interest in four years at i = 10% per year. How much would you repay at the end of four years?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 2P
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Suppose that you borrow $8,000 now, promising to repay the loan principal plus accumulated interest in four years at i = 10% per year. How much would you repay at the end of four years?
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