A person borrows 1375 at 115 simple interest a payment of

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A person borrows $1375 at 11.5% simple interest. A payment of $320 at the end of 2 years, and a payment of $640 is made at the end of 4 years. Determine the amount required to settle the debt at the end of 7 years using (a) Merchant's Rule

Reference no: EM13481760

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