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(Annuity payments) On December 31Son-Nan Chen borrowed $105,000, agreeing to repay this sum in 19 equal end-of-year installments that include both principal and 17 percent
(Annuity payments) On December 31Son-Nan Chen borrowed $105,000, agreeing to repay this sum in 19 equal end-of-year installments that include both principal and 17 percent interest on the declining balance. How large will the annual payments be? The amount of each annual payment will be What
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