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. Kramer borrowed $4000 from George at an interest rate of 7% compounded semiannually. The loan is to be repaid by three payments. The first payment, $1000, is due two years after the date of the loan. The second and third payments are due three and five years, respectively, after the initial loan. Calculate the amounts of the second and third payments if the second payment is to be twice the size of the third payment.?
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. Kramer borrowed $4000 from George at an interest rate of 7% compound...
P=$ 4000
rate=7% ci
rate =3.5% half yearly
first payment =1000
say third payment=x
then second payment=2x
1st. 2nd and 3rd payment are due at two ,three and five year after the
date of initial loan

1000 +(3years ci which is 6 half yearly with 3.5% )
2x. +(2 years ci which is 4 half yearly with 3.5%)
x

1000 +229.255326344515625
2x +14.75% of 2x it means (2x)+ 29.504% of x
x

1000++229.25=1229.25
2.2950x
x

total amount=1229.255+3.295x
this will be equal to
amount=4000(1+3.5/100)^10= 5642.39
from both values
3.2898x=5642.39-1229.25
3.2898x=4413.13
x=1341.46 approx 1342
x=1342
2x=2684
Steppenwolf🔥
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. Kramer borrowed $4000 from George at an interest rate of 7% compounded semiannually. The loan is to be repaid by three payments. The first payment, $1000, is due two years after the date of the loan. The second and third payments are due three and five years, respectively, after the initial loan. Calculate the amounts of the second and third payments if the second payment is to be twice the size of the third payment.?
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. Kramer borrowed $4000 from George at an interest rate of 7% compounded semiannually. The loan is to be repaid by three payments. The first payment, $1000, is due two years after the date of the loan. The second and third payments are due three and five years, respectively, after the initial loan. Calculate the amounts of the second and third payments if the second payment is to be twice the size of the third payment.? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about . Kramer borrowed $4000 from George at an interest rate of 7% compounded semiannually. The loan is to be repaid by three payments. The first payment, $1000, is due two years after the date of the loan. The second and third payments are due three and five years, respectively, after the initial loan. Calculate the amounts of the second and third payments if the second payment is to be twice the size of the third payment.? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for . Kramer borrowed $4000 from George at an interest rate of 7% compounded semiannually. The loan is to be repaid by three payments. The first payment, $1000, is due two years after the date of the loan. The second and third payments are due three and five years, respectively, after the initial loan. Calculate the amounts of the second and third payments if the second payment is to be twice the size of the third payment.?.
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