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What is r for charlie

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Problem 1: Charlie borrowed $170000 today. The interest rate on the loan is j11 =4.9% for the first 5 years, then it changes to j=8.8% thereafter. To repay the loan, Charlie makes yearly payments of R dollars (in the end of year) from year 3 to year 14. What is R?

Reference no: EM132838519

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