A loan of X is repaid with level payments of R payable at the end of each year for n years.You are given:(i) The interest paid in year 1 is 797.50.(ii) The principal repaid in year n-4 is 865.(iii) The principal outstanding at the end of year n-1 is 1,144.50.Determine X.ABсDE9,50010,00010,50011,00011,500

1. Year 1 Interest: $797.502. Principal Repaid in Year n-48653. Principal Outstanding at End of Year…

Answered: A loan of X is repaid with level…

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

Problem 1PS

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56. subject:- accounting
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A loan of X is repaid with level payments of R payable at the end of each year for n years. You are given: (i) The interest paid in year 1 is 797.50. (ii) The principal repaid in year n-4 is 865. (iii) The principal outstanding at the end of year n— 1 is 1,144.50. Determine X. A 9,500 10.000