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A loan of 3 0 , 0 0 0 is taken out by a company to fund expansion. If the company is charged 8 %

A loan of

30, 000

is taken out by a company to fund expansion. If the company is

charged

8 %

on loans and wishes to pay the loan in

4

equal annual payments starting

in a year

s time, what annual payment must be made?

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