Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you borrowed some money at 8 percent per annum. yo

You borrowed some money at 8 percent per annum. You repay the loan by making...

50.1K

Verified Solution

Question

Finance

You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $ 179 (first payment made at t = 1), followed by five annual payments of $ 581 , followed by four annual payments of $ 785 . How much did you borrow? (

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Which strategy would be best to use to solve for x 8 cm 229 11...

Finance
1.2K views

What is a share repurchase and is it better than paying dividends? Compare, contrast and explain...

Basic Math
1.2K views

Find a polynomial p(x) with zeroes at 1,-2, and -1 and such that p(2) equals 6...

Physics
1.2K views

A zero 2 cm C 4 cm D 1 cm A person s eye is...

Basic Math
1.2K views

During 1991, a total of 200,000 people visited Rave Amusement Park.During 1997, the number visiting...

Statistics
1.2K views

A 2019 study collected by eMarketer asked 800 US smartphone users whether theyhad used a...

Algebra
1.2K views

Determine whether the set {P?, P?, P?} is linearly independent in P?, where p? =...

Accounting
1.2K views

3) Oxford Corporation, a company that produces and sells a single product, has provided its...

Accounting
1.2K views

GLO301 - Based on Problem 03-1A LO P1, P2, P3, P4 Jones Company manufactures soccer...

Finance
1.2K views

mework 13F Consider an asset that costs $730,000 and can be depreciated at 20% per...

Finance
1.2K views

QUESTION 9 The stock price of Apax Incorporated is currently $110. The stock price a...

Finance
1.2K views

Describe the difference between nominal and real rates and discuss which we used in our...