What would be the annual end of year payments

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Reference no: EM131334954

Lobo Banks normally provides term loans that require repayment in a series of equal annual installments. If a $10 million loan is made, what would be the annual end-ofyear payments, assuming the following?

a. A 10 percent loan for 12 years

b. A 10 percent loan for 9 years

c. A 6 percent loan for 8 years

Reference no: EM131334954

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