An enthusiastic new engineering graduate plans to start a consulting firm by borrowing $100,000 at 10% per

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An enthusiastic new engineering graduate plans to start a consulting firm by borrowing $100,000 at 10% per year interest. The loan payment each year to pay off the loan in 7 years is closest to:
(a) $18,745
(b) $20,540
(c) $22,960
(d) $23,450

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Question Posted: Dec 17, 2012 05:34 AM

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An enthusiastic new engineering graduate plans to start a consulting firm by borrowing $100,000 at 10% per

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Engineering economy

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