Maurice Tutor

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About Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 407 Weeks Ago, 6 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 10 Feb 2018 My Price 5.00

Jesper Parnevik

(Retirement of Debt) Jesper Parnevik borrowed $70,000 on March 1, 2012. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2022. To retire this debt, Jesper plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2017, and for the next 4 years. The fund is expected to earn 10% per annum.

Instructions

How much must be contributed each year by Jesper Parnevik to provide a fund sufficient to retire the debt on March 1, 2022?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Feb 2018 11:02 PM My Price 5.00

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