What is the dollar amount for each of four payments

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Renaldo borrows $8000 from his aunt today to help pay for college expenses. He agrees to repay the loan according to the following schedule, at a rate of 6 percent/year compounded annually. End of Year Cash Flow 0 $8000 1 $0 2 $0 3 $0 4 $0 5 -$X 6 -(X + 100) 7 -(X + 400) 8 -$2X

What is the dollar amount for each of the 4 payments?

Reference no: EM131021531

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