If you borrow $5,000 and agree to repay the loan in five equal annual payments at an

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If you borrow $5,000 and agree to repay the loan in five equal annual payments at an interest rate of 11%, what will the annual payment be? What if you make the first payment on the loan at the end of second year?

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Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

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Question Posted: Nov 12, 2018 10:27 AM

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If you borrow $5,000 and agree to repay the loan in five equal annual payments at an

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Fundamentals of Engineering Economics

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