Chuck Ponzi has talked an elderly woman into loaning him $45,000 for a new business...
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Accounting
Chuck Ponzi has talked an elderly woman into loaning him
$45,000
for a new business venture. She has, however, successfully passed a finance class and requires Chuck to sign a binding contract on repayment of the
$45,000
with an annual interest rate of
10%
over the next
5
years. Determine the cash flow to the woman under a discount loan, in which Ponzi will have a lump-sum payment at the end of the contract.
What is the amount of payment that the woman will receive at the end of years 1 through
4?
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