Your cousin Ray borrows $1500 now, repays $750 in two years, and then borrows $1100...
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Accounting
Your cousin Ray borrows $1500 now, repays $750 in two years, and then borrows $1100 in another three years, all at nominal rates of interest of 10.1% convertible quarterly. At the same interest rate, years from now, your other cousin Jay borrows $1850. If the present value of each of your cousin's debts is the same, what is ? (Assume compound interest at all times.)
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