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A company borrows $25,000 to buy new equipment. The loan is to be repaid in five equal annual payments. If the interest rate is 10%,

A company borrows $25,000 to buy new equipment. The loan is to be repaid in five equal annual payments. If the interest rate is 10%, how much are each of the payments?

A) $3,238

B) $6,595

C) $5,500

D) $6,222

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