Brown farms wants to retire a lump sum of debt of that is, Financial Management

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Brown farms wants to retire a lump sum of debt of that is

Brown Farms wants to retire a lump sum of debt of that is worth $550,000 today in six years. They plan to make six equal year-end payments into an account that pays 9% annual interest starting with the first installment, beginning one year from today. How large is each installment?

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