Billingsley inc is borrowing 60000 for five years at an apr, Ask an Expert

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Billingsley, Inc. is borrowing $60,000 for five years at an APR of 8 percent. The principal is to be repaid in equal annual payments over the life of the loan with interest paid annually. Payments will be made at the end of each year. What is the total payment due for year 3 of this loan?

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Financial Management, Finance

Category:- Financial Management
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