Your friend borrows $20,000 from you today. She agrees to repay you in two equal...
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Finance
Your friend borrows $20,000 from you today. She agrees to repay you in two equal amounts s the first to occur in 2 years from today and the other in 3 years from today. If the interest rate is 4.8% per annum compounding monthly, what will be the amount of each repayment?
Select one:
A.
$10,678.90
B.
$11,200.00
C.
$11,240.46
D.
$11,269.04
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