You borrowed some money at 8 percent per annum you repay


You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $247 (first payment made at t = 1), followed by five annual payments of $548, followed by four annual payments of $873. How much did you borrow?

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Finance Basics: You borrowed some money at 8 percent per annum you repay
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