Seth borrows 1000 at 5 for 20 years from sojourner after 10, Financial Management

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Seth borrows 1000 at 5 for 20 years from sojourner after 10

Seth borrows $1000 at 5% for 20 years from Sojourner. After 10 years, Sojourner sells the rights to future payments to Johnathon for $P.

(a) Find P, if Johnathon plans to accumulate a sinking fund at 4% to replace P and desires a yield of 6%.

(b) Find the yield rate Sojourner earned on her investment.

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Financial Management: Seth borrows 1000 at 5 for 20 years from sojourner after 10

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Financial Management: Seth borrows 1000 at 5 for 20 years from sojourner after 10

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