Solution-What was the principal of the loan

What was the principal of the loan

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Problem 1: A loan is repaid by making payments of $5000.00 at the end of every six months for fourteen years. If interest on the loan is 8% compounded quarterly, what was the principal of the loan? Note: Different periods of compounding and repayments.

Reference no: EM132965996

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What was the principal of the loan

Reference no: EM132965996

Reference no: EM132965996

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