An engineering design firm needs to borrow $300,000 from a local bank at an interest rate of

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An engineering design firm needs to borrow $300,000 from a local bank at an interest rate of 9% over five years. What is the required annual equal payment to retire the loan in five years?

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Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

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Question Posted: Nov 17, 2018 12:40 PM

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An engineering design firm needs to borrow $300,000 from a local bank at an interest rate of

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Fundamentals of Engineering Economics

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