A loan of 60000 is due 10 years from today the borrower, Ask an Expert

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A loan of $60,000 is due 10 years from today. The borrower wants to make annual payments at the end of each year into a sinking fund that will earn compound interest at an annual rate of 10 percent. What will the annual payments have to be?

Suppose that the monthly payments earn 10 percent interest, compounded monthly. What would the annual payments have to be?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92081989

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