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Te amounts of 1225 1350 1500 1600 and 1600 over the next

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Present value with multiple cash flows: Jeremy Fenloch borrowed some money from his friend and promised to repay him the amounts of $1,225, $1,350, $1,500, $1,600, and $1,600 over the next five years. If the friend normally discounts investment cash flows at 8 percent annually, how much did Jeremy borrow?

Reference no: EM13569085

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