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October 20, 2014

Homework Help: math(simple interest)

Posted by Thara on Wednesday, July 22, 2009 at 7:55pm.

A $9,000 loan is to be repaid in three equal payments occurring 60, 180, and 300 days, respectively, after the date of the loan. Calculate the size of these payments if the interest rate on the loan is 7 1/4%. Use the loan date as the focal date.

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