A firm borrows 25000 from the bank at 12 percent compounded


A firm borrows $25,000 from the bank at 12 percent compounded annually to purchase some new machinary. This loan is to be repaid in equal installments at the end of each eyar over the next 5 years. How much will each annual payment be?

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Finance Basics: A firm borrows 25000 from the bank at 12 percent compounded
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