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Posted on Sep 19, 2024

you borrow $ 1 0 0 , 0 0 0 and make 5 annual repayments at a fixed rate of 1 1 . 5 %

you borrow $

100, 000

and make

5

annual repayments at a fixed rate of

11.5 %

per annum. What it the annual repayment? Note

-

this a PV of Annuity problem answer is $

27, 398.1772 -

I just need to know how they got to that answer. Thanks

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