You borrow $216,366 and set it up to pay it back with 3 annual payments, plus 4%

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You borrow $216,366 and set it up to pay it back with 3 annual payments, plus 4% interest on the remaining loan balance. The loan is amortized under the equal principal payment plan. How much would you pay each year?

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Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

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Posted Date: Nov 11, 2020 02:10 PM

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You borrow $216,366 and set it up to pay it back with 3 annual payments, plus 4%

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Acco o rding to the question Loan amount P 216 366 Tim... View the full answer

Finance Applications and Theory

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