Homework Help: math-finance

Posted by Allison on Tuesday, January 18, 2011 at 5:19pm.

Colin borrowed some money at 7.16%?a compounded quarterly. three years later. he paid $5000 toward the principal and the interest. after another two years, he paid another $5000. after another five years, he paid the remainder of the principal and the interest, which totalled $5000. how much money did he originally borrow?

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