How much to borrow-repay loan by making three annual payment


You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $170 (first payment made at t = 1), followed by five annual payments of $489, followed by four annual payments of $797. How much did you borrow?

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Finance Basics: How much to borrow-repay loan by making three annual payment
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