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A corporation is contemplating the purchase of a new piece of equipment with a purchase price of $500,000. It plans to make a 10% down
A corporation is contemplating the purchase of a new piece of equipment with a purchase price of $500,000. It plans to make a 10% down payment and will receive a loan for 25 years at 10% interest. The annual payment required on the loan, assuming the payments are made at the end of each year, should be: Select one: a. $45,000 b. $18,000. c. $50,903 d. $49,576
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