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John Has Agreed to Purchase His Partner's Share in Real

Question 23

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John has agreed to purchase his partner's share in real estate by making payments of $5000.00 every three months. The agreed transfer value is $40 000.00 and interest is 10% compounded annually. If the first payment is due at the date of the agreement, what is the size of the final payment?

Correct Answer:

verifed

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p = blured image - 1 = 0.0241136891
40000 = 5000 blured image (1...

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