What is the size of the equal installment if money is worth
Problem
A loan of $1127 borrowed today is to be repaid in three equal installments due in one year four years and five-and-half years respectively. What is the size of the equal installment if money is worth 6.4% compounded semi-annually.
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A loan of $1127 borrowed today is to be repaid in three equal installments. What is size of equal installment if money is worth 6.4% compounded semi-annually.
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