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To provide funding for a particular project, a company decides to go for a loan worth GHS200,000. The loan is originally to be paid at
To provide funding for a particular project, a company decides to go for a loan worth GHS200,000. The loan is originally to be paid at an interest rate of 18% per year in six annual installments. However, the company plans to finish paying the loan at the end of the fourth year through a lump sum payment of GHS100,000. The amount that needs to be paid each year during the first three years is GHS
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