Problemgus borrows 25000 for 5 years he will pay 3000 at, Ask an Expert

Finance

Problem:

Gus borrows 25,000 for 5 years. He will pay 3000 at the end of the first two years and then Z for the last three years. The loan payments are calculated using an effective interest rate of 5.25%.

Required:

Calculate Z.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91148316

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