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ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A person borrowed $5000 each year for four years(from N=-4 to N=-1) at an interest rate of 6% per year. He want repay these loans in equal 6 payments, each payment is paid every two years starting four years from now with interest rate of 6% per year. the amount of money that must be repaid every two years is NOTE: if you need to calculate the interest rate, always take the first 4 digits (0.xxxx) а. 6410 b. 6300 C. 6400 d. 6350 e. 6425
Transcribed Image Text:A person borrowed $5000 each year for four years(from N=-4 to N=-1) at an interest rate of 6% per year. He want repay these loans in equal 6 payments, each payment is paid every two years starting four years from now with interest rate of 6% per year. the amount of money that must be repaid every two years is NOTE: if you need to calculate the interest rate, always take the first 4 digits (0.xxxx) а. 6410 b. 6300 C. 6400 d. 6350 e. 6425
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