anonymous
  • anonymous
Anne and Frank Smith each borrow $12,000 from their father. Anne and Mr. Smith have agreed that she will repay her loan in full by paying $6,000 in two years and $8,000 in four years. Frank prefers to make one lump payment of $15,000 to fully repay his loan. When should he make that payment so that he and his sister will each have the same interest rate? (Financial Math)
Mathematics
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SOLVED
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schrodinger
  • schrodinger
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