An entrepreneur is taking a long-term annuity-loan of 10000, Ask an Expert

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An entrepreneur is taking a long-term annuity-loan of 10000 EUR with the duration of 10 years, yearly interest rate 8%. Equal payments are made at the end of each year, and by making those 10 payments the whole loan and the interests will be paid off by the end of the 10th year. P/A8%;10Y=6.7101. Please calculate the loan (annuity) payment.

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Financial Management, Finance

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