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/ Homework Answers / Accounting / Question . Bob Smith borrowed $200,000 January 1, 2015. The interestrate

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. Bob Smith borrowed $200,000 on January 1, 2015. The interestrate of 8% is compounded semiannually to be repaid January 1, 2025.To repay this Bob wants to start making five equal annual depositsinto fund that earns 6% annum on January 1, 2020.

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What is the amount of the five annual deposits that Bob needs tomake?

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Accounting 3 Months Ago 147 Views
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