Big brothers inc borrows 66737 from the bank at 1815 per, Ask an Expert

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Big Brothers INC borrows $66,737 from the bank at 18.15% per year, compounded annually, to purchase new machinery. The loan is to be repaid in equal annual installments at the end of each year over the next 8 years. How much will each annual payment be? Show work and round the answer to two decimal places.

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Financial Management, Finance

Category:- Financial Management
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