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Americ Inc. borrowed $200,000 on January 1 with repayment scheduled over a 10-year period, with payments due at the end of each year at an
Americ Inc. borrowed $200,000 on January 1 with repayment scheduled over a 10-year period, with payments due at the end of each year at an interest rate of 7%. What is Americs annual payment on this loan?
- Round answer to the nearest whole dollar.
- Do not use a negative sign with your answer.
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