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Your company took out an amortizing loan with the following terms: A 1 Amount: 2 Term (years) 30 3 Interest rate 6% B 7,000

Your company took out an amortizing loan with the following terms: A 1 Amount: 2 Term (years) 30 3 Interest rate 6% B 7,000 What is the annual payment on the loan (as a positive number)? Use Excel's PMT() function.

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