Your firm plans to buy a warehouse for $100,000. The bank offers you a 30-year loan with

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Your firm plans to buy a warehouse for $100,000. The bank offers you a 30-year loan with equal annual payments and an interest rate of 8% per year. The bank requires that your firm pays 20% of the purchase price as a down payment, so you can borrow only $80,000. What is the annual loan payment?

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Fundamentals Of Corporate Finance

ISBN: 9781292437156

5th Global Edition

Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford

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