Suppose you borrow money from your parents for college tuition on January 1, 2015. Your...
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Accounting
Suppose you borrow money from your parents for college tuition on January 1, 2015. Your parents require four annual payments of $40,000 each, with the first payment due on January 1, 2019. They are charging you 8% annual interest. What is the cost of the college tuition?
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