Today you are taking out a loan the loan does not require, Ask an Expert

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Today, you are taking out a loan. The loan does not require any payments until 3 years from now. The first payment will be for $325. The payments will then increase by $80 every year after that until a total of 10 payments are made.

The interest rate on the payments is 4%. What is the amount, in dollars, of the loan you took today?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92866891

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