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5. a 5-year $1,000 loan requiring annual payments at a fixed rate of 8% is amortized into five-year annuity payments. How much is the
5. a 5-year $1,000 loan requiring annual payments at a fixed rate of 8% is amortized into five-year annuity payments. How much is the annual payment? PV=1000, 5=N, 8-1/Y, CPT PMT-250.46
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Advanced Financial Accounting
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
6th edition
013703038X, 978-0137030385
