Question: A bank is negotiating a loan. The loan can either be paid off as a lump sum of $100,000 at the end of each of

A bank is negotiating a loan. The loan can either be paid off as a lump sum of $100,000 at the end of each of the next five years. If the interest rate on the loan is 10%, what annual payments should be made so that both forms of payment are equivalent?

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