Question: Mr.Smith borrowed 8000 today. if he needs to pay annually for 8 years, how much will his annual payment be if the interest is 8%

Mr.Smith borrowed 8000 today. if he needs to pay annually for 8 years,

how much will his annual payment be if the interest is 8% compounded monthly

during the first 4 years and 10% compounded quarterly during

the next 4 years?

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