Unformatted text preview: …, K(l + r)n] ’V’ is the final value of the loan plus interest, ’K’ is the capital or principal amount borrowed, ’r’ is the rate of interest and ’n’ is the number of years of borrowing. In our example, V = 1210, K = 1000, r = 10% or 0.10 and n = 2...
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This note was uploaded on 11/26/2011 for the course EC ec 201 taught by Professor  during the Fall '10 term at Montgomery.
 Fall '10
 

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