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Question 3. (40 points) Your company would like to borrow $30 00,000 to nance the construction a new plant. The company has the option to

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Question 3. (40 points) Your company would like to borrow $30 00,000 to nance the construction a new plant. The company has the option to borrow the money at an annual interest of 5% over 10 years with annual payment plan (annuity). Determine: 1. The annual payment the company is paying 2. The total interest paid over the life of the loan

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