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Part Two Chapters 4.9 00 is to be read in equa l payments over 15 years. The interest rate is 7 percent, compounded annually


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installment = Px 8(1+0) problem -6 Question: - If we observe the question, the person is paying in 15 Equal Annual payment i.year 1- at the end of year I, the person will pay $23, 276.61. Installment Amount Interest Amount for year-l= $212000 x 7./.

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