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A loan of $4100 is due in 7 years. If money is worth 4.3% compounded annually, find the equivalent payments that would settle the debt at the times shown below. (a) now (b) in 3 years (c) in 7 years (d) in 10 years COD (a) The equivalent loan payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

A loan of $4100 is due in 7 years. If money is worth 4.3% compounded annually, find the equivalent payments that would settle the debt at the times shown below. (a) now (b) in 3 years (c) in 7 years (d) in 10 years COD (a) The equivalent loan payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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A loan of $4100 is due in 7 years. If money is worth 4.3% compounded annually, find the equivalent payments that would settle the debt at the times shown below. K (a) now (b) in 3 years (c) in 7 years (d) in 10 years (a) The equivalent loan payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:A loan of $4100 is due in 7 years. If money is worth 4.3% compounded annually, find the equivalent payments that would settle the debt at the times shown below. K (a) now (b) in 3 years (c) in 7 years (d) in 10 years (a) The equivalent loan payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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