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ACME Services borrows $120,000 in a 5 -year loan from an investor. The terms are: Interest rate =8.0%, repayable in blended payments of principal and

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ACME Services borrows $120,000 in a 5 -year loan from an investor. The terms are: Interest rate =8.0%, repayable in blended payments of principal and interest annually. Calculate the amount of the annual payitient. Show your calculator inputs or formula calculations. (5 marks) Annual PMT (of PV) =PV/[(1(1/(1+i)n))/i] Monthly PMT (of PV) = PV /[(1(1/(1+(i/12))(n12)))/(i/12)]

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