Question: A solid waste disposal company borrowed money at 10% per year interest to purchase new haulers and other equipment needed at the company owned landfill

A solid waste disposal company borrowed money at 10% per year interest to purchase new haulers and other equipment needed at the company owned landfill site. If the company got the loan 2 years ago and paid it off with a single payment of $4,600,000, what was the principal amount P of the loan?

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