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What is the total amount of money to be repaid at the end of 8 years for a loan of 150 000 lira withdrawn from the bank for housing need with an annual compound interest of 15%?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

17 - What is the total amount of money to be repaid at the end of 8 years for a loan of 150 000 lira withdrawn from the bank for housing need with an annual compound interest of 15%?
A) 459 700

B) 460 521

C) 456 834

D) 458 853

E) 457 271

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