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You have invested $50,000 in a business for an 8-year period. The business is willing to pay you at an annual interest rate of 4.5%.

You have invested $50,000 in a business for an 8-year period. The business is willing to pay you at an annual interest rate of 4.5%. The business will return you the money in 8 equal annual installments that will include the principal and the interest. What is the annual payment amount?

None of the options listed

$7,201

$5,330

$6,822

$7,580

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