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PLEASE ANSWER THE FOLLOWING QUESTION ASAP.. If you borrow $9,200 with an interest rate of 5 percent, to be repaid in five equal yearly payments
PLEASE ANSWER THE FOLLOWING QUESTION ASAP..
If you borrow $9,200 with an interest rate of 5 percent, to be repaid in five equal yearly payments at the end of the next five years, what would be the amount of each payment? Use Exhibit 1-D. (Round time value factor to 3 decimal places and final answer to 2 decimal places.)
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