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02-01-2023
Business

Answered

Please calculate the present value of each amount in the following scenarios, rounded to the nearest dollar. Note that the below interest rates are compounded annually. Jacob finally pays off his student loan, which had an interest rate of 3.0%. At the three year payment of his loan, Jacob paid $10,358 to his lender. Number $ ...
Tommy cashes a government-issued bond that he has held for five years. The bond has a rate of 2.0%, and he receives $4.762 when he cashes it in. Number $ ...
Steve repays a small business loan he took out six years ago to open a deli. His rate was 9.0% and he makes a total repayment of $14,681. Number $ ...

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