Question
Asked Nov 3, 2019
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When Rachel borrowed $2400, she agreed to repay the loan in two equal payments, to be made 90 days and 130 days from the day the money was borrowed. if interest is 8.25% on the loan, what is the size of the equal payments if a focal date of today is used?

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Suppose, the equal size payment to be made is P. Time period after which first payment has to be m...

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