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06-06-2023
Business

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Thomas Tiylor borrowed some money from his friend and promised to repay him $1,220,$1,340,$1,500,$1,570, and $1,570 over the next five years. If the friend normally discounts investment cash flows at 7 percent annually, how much did Thomas borrow? (Round answer to 2 decimal places, es. 15.25. Do not round factor values.) Presentvalue

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