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Principles of Engineering Economic Analysis-Time value of money If you borrow 30,000 at 7% annual compound interest and pay it back with 25 equal

Principles of Engineering Economic Analysis-Time value of money

If you borrow 30,000 at 7% annual compound interest and pay it back with 25 equal payments, what will be the size of each payment if the first payment accurs 3 years(s) after you borrowing the money?

the answer is 2,947.33
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Finance - 8363346.doc

Principles of Engineering Economic Analysis-Time value of money
If you borrow 30,000 at 7% annual compound interest and pay it back with 25 equal
payments, what will be the size of each payment if...

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