An individual wants to borrow 120000 from a bank and repay, Ask an Expert

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An individual wants to borrow $120,000 from a bank and repay it in six equal annual end-of-year payments, including interest. If the bank wants to earn a 7 percent rate of return on the loan, what should the payments be? Ignore taxes and default risk.

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Category:- Basic Finance
Reference No.:- M941000

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