Question: Problem 9: A firm plans to borrow 50,000 for five years. The local bank will lend the money at a rate of 9% and requires

 Problem 9: A firm plans to borrow 50,000 for five years.

Problem 9: A firm plans to borrow 50,000 for five years. The local bank will lend the money at a rate of 9% and requires that the loan be paid off in five equal end-of-year payments. Calculate the amount of the payment that the firm must make in order to fully amortize this loan in five years. Problem 10: The company's sales in 2017 were 12 million. Sales were 6 million 5 years earlier (in 2012). To the nearest percentage point, at what annual rate have sales been growing

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