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A company has borrowed $200,000 to purchase equipment. The loan carries an interest rate of 5% per year and is to be repaid in equal

A company has borrowed $200,000 to purchase equipment. The loan carries an interest rate of 5% per year and is to be repaid in equal installments over the next 7 years. What is the amount of the annual installment? Select one: O a. None of the given values O b. $34,000 O c. $34,560 O d. $3,560 O e. $4,560 O f.$560

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