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How much must he repay at the end of the term

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Reference no: EM131980378

Find what is required in each problem with the formula and step:

  1. John soon borrowed $150,00 for 2 1/2 years, with interest at 8%. How much must he repay at the end of the term?
  2. Ricky Loaned his his friend, Frank $100,000 for 1 1/2 years at 9%. what is the amount that frank must pay when the loan expires?

Reference no: EM131980378

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