A loan of $10,000 is to be repaid with annual payments, at the end of each year, for the next 21 years. For the first 7 years the payments are X per year, the second 7 years they are 2X per year, and...

A loan of $10,000 is to be repaid with annual<br>payments, at the end of<br>each year, for the next 21 years. For the first 7<br>years the payments<br>are X per year, the second 7 years they are 2X per<br>year, and for the<br>third 7 years they are 3X per year.<br>1) Find X if il2) = 10%.<br>2) Find X if il2) = 8% for the first 10 years and il2) =<br>12% afterwards.<br>

Extracted text: A loan of $10,000 is to be repaid with annual payments, at the end of each year, for the next 21 years. For the first 7 years the payments are X per year, the second 7 years they are 2X per year, and for the third 7 years they are 3X per year. 1) Find X if il2) = 10%. 2) Find X if il2) = 8% for the first 10 years and il2) = 12% afterwards.

Jun 04, 2022

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A loan of $10,000 is to be repaid with annual payments, at the end of each year, for the next 21 years. For the first 7 years the payments are X per year, the second 7 years they are 2X per year, and...

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