Big brothers inc borrows 116647 from the bank at 1939, Ask an Expert

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Big brothers, inc. borrows $116,647 from the bank at 19.39 percent per year, compounded annually, to purchase new machinery. This loan is to be repaid in equal annual installments at the end of ech year over the next 9 years. How much will each annual payment be?

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Financial Management, Finance

Category:- Financial Management
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