Two Equal Payments, 50 Days and 150 Days After the Date

question 86

Short Answer

Two equal payments, 50 days and 150 days after the date of the loan, paid off a $3000 loan at 8.25%. What was the amount of each payment?

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Definitions:

Jurisdictional Dispute

A disagreement over which legal authority or court has the right to hear and decide a case.

Unfair Labour Practice

Actions by employers or unions that violate employees' rights or the laws governing labor relations.

Threatens

Communicating an intention to cause harm or disadvantage to someone in order to compel action or inaction.

Higher Wages

Increased compensation for employment, often reflecting a higher skill level requirement, more responsibilities, or adjustment to living costs.