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To pay a loan of $5,000 at j12 = 9%, Clara agrees to make three...

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Accounting

To pay a loan of $5,000 at j12 = 9%, Clara agrees to make three payments in 4, 7 and 12 months, respectively. The second and third payments are to be double the first one. What is the size of the first payment?

part 2. Let r and d be equivalent rates of simple interest and simple discount, respectively. Show that d < r.

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