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6. Juan borrows $50,000 at 10 percent annually compounded interest to be repaid in four equal annual installments. What is the amount of each annual
6. Juan borrows $50,000 at 10 percent annually compounded interest to be repaid in four equal annual installments. What is the amount of each annual installment payment? Use traditional formulas (not excel). Show your work and how you come to your conclusions.
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