CHAPTER 21

You have been offered a 7-year investment at a price of $50,000. It will pay $5,000 at the end of Year 1, $10,000 at the end of Year 2, and $15,000 at the end of Year 3, plus a fixed but currently unspecified cash flow, X, at the end of Years 4 through 7. ... Use the calculator’s amortization feature to find the remaining principal balance: 3 ... ................
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