Friend normally discounts investments cash flows

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Reference no: EM131303534

Jeremy Fenloch borrowed some money from his friend and promised to repay him the amounts of $1,290, $1,325, $1,500, $1,630, and $1,575 over the next five years. If the friend normally discounts investments cash flows at 8.50 percent annually, how much did Jeremy borrow?

Reference no: EM131303534

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