Estimate the annual payment the bank will require to make


West Trenton Corp. currently has a bank loan outstanding that requires it to make three annual payments at the end of the next three years or to skip making the next two payments in lieu of making one large payment at the end of the loan's term in three years in the amount of $3,184,000.

When the interest rate on the loan is 6%, estimate the annual payment the bank will require to make West Trenton Corp. indifferent between the two forms of payments.

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Financial Management: Estimate the annual payment the bank will require to make
Reference No:- TGS02849303

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