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The XYZ Company has borrowed $100,000. Payments will be made over a four-year period (first payment at the end of the first year). The bank
The XYZ Company has borrowed $100,000. Payments will be made over a four-year period (first payment at the end of the first year). The bank charges interest of 0.20 per year.
a. The annual payment will be ________.
b. The debt amortization schedule is Amount owed (beginning of period) Interest Principal 1 $100,000 2 3 4
c. If there are five payments with the first payment made at the moment of borrowing, the annual payment will be ________.
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