A concern borrows $50,000 at an annual effective compound interest rate of 10%. The concern wishes to pay off the debt in 5 yr by making equal payments at the end of each year. How much will each payment have to be?

17.6 A concern borrows $50,000 at an annual effective compound interest rate of 10%. The concern wishes to pay off the debt in 5 yr by making equal payments at the end of each year. How much will each payment have to be