What annual payments should be made so that both forms of


A bank is negotiating a loan. The loan can either be paid off as a lump sum of $13 0,000 at the end of 4 years, or as equal annual payments at the end of each of the next 4 years. If the interest rate on the loan is 9.3?% regardless of the payment?method, what annual payments should be made so that both forms of payment are?equivalent? (Round your answer to the nearest cent)

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Financial Management: What annual payments should be made so that both forms of
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