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How much would a bank be willing to loan if the borrower offered terms of repaying...

How much would a bank be willing to loan if the borrower offered terms of repaying $10,000 every three year for 36 years (i.e. first payment 3 years from today, the second payment is received 6 years from today, etc.) and the relevant rate of interest is 7% compounded annually?

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Answer #1

Hence, Loan amount is $40,546.23 or $40,546

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