Question: 1 . You borrow $ 1 0 , 0 0 0 with an interest rate of 6 % per year to purchase a car. You

1. You borrow $10,000 with an interest rate of 6% per year to purchase a car. You make 3 equal annual payments for 3 years, with the first payment due at the end of the 1st year. How much is each payment? What if the first payment is due today?
Please write the formula

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