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Solving for Annuity Amount per Period Aflack Inc. borrowed $ 5 4 , 0 0 0 and agreed to pay off the loan over 5
Solving for Annuity Amount per Period
Aflack Inc. borrowed $ and agreed to pay off the loan over years by making equal yearend payments, compounded annually at
a What is the annual payment amount?
b What is the annual payment amount if the interest rate increased to
Round answers to the nearest whole dollar.
Do not use a negative sign with your answer.
a What is the annual payment amount?
b What is the annual payment amount if the interest rate increased to $
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