Engineering Economy
Engineering Economy
8th Edition
ISBN: 9780073523439
Author: Leland T Blank Professor Emeritus, Anthony Tarquin
Publisher: McGraw-Hill Education
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Chapter 1, Problem 17P

Determine the amount of money FrostBank might loan a housing developer who will repay the loan 2 years from now by selling eight water-view lots at $240,000 each. Assume the bank’s interest rate is 10% per year.

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