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A contractor borrows an amount of GH200,000 to purchase an equipment. The loan is to be repaid in 30 years by equal, annual, year-end payments.
A contractor borrows an amount of GH200,000 to purchase an equipment. The loan is to be repaid in 30 years by equal, annual, year-end payments. With the interest of 8% how much should the contractor pay yearly.
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