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GreatBuy purchased office equipment costing $350,000. The company paid for the equipment by signing an unsecured loan. If the annual end-of-year payments GreatBuy will make are $54,153 and the company is able to borrow capital at approximately 5%, how many payments will GreatBuy have to make to pay off the loan?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9950137

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