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Determine the size of the final payment

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Frank borrows $5000 on january 8,2014. he pays $2000 on april 30,2014 and $2000 on august 31 2014. The last payment is to be on January 2, 2015. If interest is at 6% and the focal date is january 2,2015. Determine the size of the final payment

Reference no: EM132779692

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