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How much will your neighbor have to pay at end of each year

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Question - Your neighbor makes you the following offer. He would like to borrow $10,000 today. He will repay the $10,000 by making 10 yearly payments with the first payment being made at the end of this year and the appropriate discount rate is 12%. How much will your neighbor have to pay at the end of each year?

Reference no: EM133127636

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