Jones co borrowed money that is to be repaid in 12 years so


Jones Co. borrowed money that is to be repaid in 12 years. So that the loan will be paid back at end of the 12th year, the company invests $8,000 at end of each year at 5% compounded annually. Using the tables in the Business Math Handbook that accompanies the course textbook, determine the amount of the original loan.

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Business Economics: Jones co borrowed money that is to be repaid in 12 years so
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