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Accounting Homework Help

Accounting Homework Help

Two loans for equal amounts are amortized at 4% interest. Loan Xis to be repaid by 30 level annual payments. Loan Y is to be repaidby 30 annual payments, each containing equal principal amounts withthe interest portion of each payment based upon the unpaid balance.The payment for loan X first exceeds the payment for loan Y at theend of year t. Find t.

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16 Oct 2017
Due Date: 16 Oct 2017

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