Amount of annual payment that is going to pay off debt

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In December 2013, Dayanara bought a new BMW 328i car for $ 70,000 and paid $ 8,000 in cash. It agreed with the XYZ Bank to pay the balance making equal annual payments in 6 years, at 9% interest.

a. Determine the amount of the annual payment that is going to pay off the debt.

b. Make the amortization table.

Reference no: EM131337945

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