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ACCT 4110 Advanced Accounting Assignment

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ACCT 4110 Advanced Accounting Assignment - Loyola Marymount University, USA

Question - A borrows $10,000 for five years at 12% convertible semiannually. A replaces the principal by means of deposits at the end of every year for five years into a sinking fund which earns 8% effective. Find the total dollar amount which A must pay over the five-year period to completely repay the loan.

Reference no: EM132572863

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