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20. A supermarket chain borrows R2 800000 at an effective rate of 15% p.a. to build a new store. It arranges with the financial institution
20. A supermarket chain borrows R2 800000 at an effective rate of 15% p.a. to build a new store. It arranges with the financial institution financing this venture to repay this debt in ten equal payments, of which the first repayment will be made in the ninth year after the debt was incurred. What amount will be paid annually by the supermarket chain to repay this debt
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