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Big brother inc, borrow $350,165 from the bank at 9.11 percent per year

by | Dec 1, 2023 | Posted Questions

Big brother inc, borrow $350,165 from the bank at 9.11 percent per year, compound annually, to purchase new machinery. 

This loan is to be re paid in equal annual installments at the end of each year over the next 8 years. 
How much will each installment payment be?
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