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This loan is to be repaid in equal installments at the end

Big Brothers, Inc. borrows $66,737 form the bank at 18.15% per year, compounded annually, to purchase new machinery. This loan is to be repaid in equal installments at the end of each year over the next eight years. How much will each annual payment be?

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Finance Basics: This loan is to be repaid in equal installments at the end

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Finance Basics: This loan is to be repaid in equal installments at the end

Reference No:- TGS02519713

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