A bank loan money at 7% interest for five years to do the lawn will be...

Question

Question

A bank loan money at 7% interest for five years to do the lawn will be repaid in one lump some payment of 3360 612 how much this to borrow

What is the value today of 2500 to be so we see the same use it the discount rate is 3.5%

Answer 1

Answer #1

→ rate : 7% → Repayment = at end of 5th Year . - Borrowed amount Loan Value (1 + rate) 3360 612 (1.07) 3360612 1.40255 239606

Answer 2

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