To buy a house that costs $50,000, the following partial payment system is agreed upon...
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To buy a house that costs $50,000, the following partial payment system is agreed upon in a total term of 15 months with 25%: Find the value of payment 5 by the American rule method and prepare the payment table Payment 1: $10,000 month 0 Payment 2: $12,000 month 2Payment 3 $15,000 month 7Payment 4 $15,000 month12Payment 5 $? month15 Answer: $4,894.54
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