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14 January, 17:39

Fishing designs has arranged to borrow $13,000 today at 10% interest. the loan is to be repaid with end-of-year payments of $3,000 at the end of years 1 through 4. at the end of year 5, the remainder will be paid. what is the year 5 payment?

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  1. 14 January, 21:25
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    13,000 + 3,000 = 1,600 + 1965 totally amount
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