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8. Your company has received a $75,000 loan from an industrial finance company. The annual payments are $14,058.30. If the company is paying 10 percent
8. Your company has received a $75,000 loan from an industrial finance company. The annual payments are $14,058.30. If the company is paying 10 percent interest per year, how many loan payments must the company make? Round to the nearest number of years.
(i) Develop the timeline:
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(ii) Calculate Value N
(iii) Values N = ? I = 10 PV= -75000 PMT = 14058.30 FV = 0
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