Stephen borrows 1000 at 5 for 20 years from minglu after 10, Financial Management

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Stephen borrows 1000 at 5 for 20 years from minglu after 10

Stephen borrows $1000 at 5% for 20 years from Minglu. After 10 years, Minglu sells the rights to future payments to Aipeng for $P.

a) Find P, if Aipeng plans to accumulate a sinking fund at 4% to replace P and desires a yield of 6%.

b) Find the yield rate Minglu earned on her investment.

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Financial Management: Stephen borrows 1000 at 5 for 20 years from minglu after 10

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Financial Management: Stephen borrows 1000 at 5 for 20 years from minglu after 10

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