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Michael borrows R5 534 459 at 12% to finance the purchase of his new home and agrees to make equal annual end of year payments

Michael borrows R5 534 459 at 12% to finance the purchase of his new home and agrees to make equal annual end of year payments over 20 periods. What is the size of each payment he needs to make? A R4 566 980,30 B R1 150 281,25 C R4 825 619,36 D R2 349 876,67

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