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Loan payments and interest Schuyler Company wishes to purchase an asset costing $113.000. The full amount needed to finance the asset can be borrowed at

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Loan payments and interest Schuyler Company wishes to purchase an asset costing $113.000. The full amount needed to finance the asset can be borrowed at 13.99 interestThe terms of the loan require equal ond-of-year payments for the next six years. Determine the total anual loan payment, and bronk it into the amount of interest and the amount of principal paid for each year. (Hint: Use the techniques presented in Chapter 5 to find the loan payment.)

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