If you borrow $8,000 with a 5 percent interest rate to be repaid in five equal payments

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If you borrow $8,000 with a 5 percent interest rate to be repaid in five equal payments at the end of the next five years, what would be the amount of each payment? (Note: Use the present value of an annuity table in the chapter appendix.

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Focus On Personal Finance

ISBN: 9780073382425

3rd Edition

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

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