A farmer purchased 285 acres of land for $4,100/acre. He paid 25% down and obtained a loan

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A farmer purchased 285 acres of land for $4,100/acre. He paid 25% down and obtained a loan for the balance at 6.75% APR over a 20-year period. How much is the annual payment? (Simplify your answer completely. Round your answer to the nearest cent.)

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Introduction to Management Science A Modeling and Cases Studies Approach with Spreadsheets

ISBN: 978-0078024061

5th edition

Authors: Frederick S. Hillier, Mark S. Hillier

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Posted Date: Jun 15, 2022 04:25 AM

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A farmer purchased 285 acres of land for $4,100/acre. He paid 25% down and obtained a loan

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5 Annual payment 8112314 ... View the full answer

Introduction to Management Science A Modeling and Cases Studies Approach with Spreadsheets

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