Question: Assume the same information as BEPV.12, except that the interest rate is 9% instead of 8%. What is the annual payment that Marsdon will receive

Assume the same information as BEPV.12, except that the interest rate is 9% instead of 8%. What is the annual payment that Marsdon will receive from its customer?

Data from BEPV.12

Marsdon Company receives a six-year, $50,000 note that bears interest at 8% from a customer. The customer will make annual blended principal plus interest payments at the end of each year. What is the annual payment that Marsdon will receive from its customer?

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