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#5 You borrowed $20,000 from your uncle to start a construction business. Your uncle wants you to recover his capital at 12% interest, and
#5 You borrowed $20,000 from your uncle to start a construction business. Your uncle wants you to recover his capital at 12% interest, and be paid back in equal annual payments over 5 years. What will your annual payments be to pay him back the $20K at 12% over 5 annual payment? $5,192 $5,548 $4,922 $4,299 $6,182
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur Keown, John Martin
12th edition
133423824, 978-0133423822
