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1. A construction company borrows $100,000 to purchase equipment with a promise to repay the loan with equal monthly payments over a 6-year period. a.

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1. A construction company borrows $100,000 to purchase equipment with a promise to repay the loan with equal monthly payments over a 6-year period. a. Draw the cash flow diagram b. At an interest rate of 8% compounded monthly, what are the annual payments to pay off the loan in full

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