Determine the? equal-annual-end-of-year payment required

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Reference no: EM131300221

Determine the? equal, annual,? end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan.

Priciple $ 9,000 Interest Rate 8% Term of Loan (years) 25

a) The amount of the? equal, annual,? end-of-year payment, CF, is ? Round to nearest cent

Reference no: EM131300221

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