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A businessman borrows $1,000 at an annual rate of 5% to be paid in three equal installments. What is the annual payment that the borrower
A businessman borrows $1,000 at an annual rate of 5% to be paid in three equal installments. What is the annual payment that the borrower will have to make to pay off his loan in the three-year loan period?
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
78025915, 978-1259115400, 1259115402, 978-0078025914
