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  • MBA,PHD in Psychology
    Northwest Florida State College
    Jun-1992 - May-1997

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    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 08 May 2017 My Price 9.00

You have borrowed $25,000 at an interest rate of 16%.

You have borrowed $25,000 at an interest rate of 16%. Equal payments will be made over a three-year period. (The first payment will be made at the end of the first year.) What will the annual payment be, and what will the interest payment be for the second year?

Q46

An individual deposits an annual bonus into a savings account that pays 8% interest compounded annually. The size of the bonus increases by $2,000 each year, and the initial bonus amount was $5,000. Determine how much will be in the account immediately after the fifth deposit.

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Status NEW Posted 08 May 2017 11:05 AM My Price 9.00

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