How much will be required in five years to repay

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Reference no: EM13146193

For an interest rate of 13% compounded annually, determine the following. (a) How much can be lent now if $12,000 will be repaid at the end of four years? (b) How much will be required in five years to repay a $30,000 loan received now?

Reference no: EM13146193

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