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  • 4 years ago

intrest on a 5000$ loan is 4.8% per year compounded monthly. the loan is due in 6 years. if the creditor were to sell the loan to another creditor, discounted at 4.2% per year compunded quarterly, a) how much would the new creditor pay b) how much did the origional creditor earn on the loan

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spraguer (Moderator)
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