Flag Company borrowed ($ 100,000) by signing a six-year, (14 %) installment note. The terms of the
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Flag Company borrowed \(\$ 100,000\) by signing a six-year, \(14 \%\) installment note. The terms of the note require six annual payments of an equal amount, the first of which is due one year after the date of the note. Calculate the amount of the installment payments, based on the present values contained in Table 10-2.
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