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Consider the publicly held debt of $5.0 milion in 2006. Use the loan payment formula to determine the annual payments needed to pay this debt

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Consider the publicly held debt of $5.0 milion in 2006. Use the loan payment formula to determine the annual payments needed to pay this debt off in 8 years. Assume an annual interest rate of 4% The mual payments needed to pay the debt off in 8 years is about $ilion per year. (Round to the nearest whole number as needed)

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