Find the size of the final payment

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A discounted loan of $20,000 was taken out by a company for 9 months at a 12% simple discount rate. The proceeds were immediately invested for 9 months at a 15% simple interest rate with three partial payments: of $400 at the end of two months, $10,000 at the end of four months, and a final payment. Find the size of the final payment using the Declining Balance Method. What annual simple interest rate and simple discount rate were realized by the company.

Reference no: EM133264412

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