Find the total amount of interest and capital

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Reference no: EM132775135

Question - To finance the technological improvement of the production plant, a company obtains a loan of $ 80,000,000 for a term of 5 years and an interest rate of 20% per year, to pay in fixed annual capital repayments. Simultaneously with the capital payments, it also pays annual interest. Find the total amount of interest and capital that the company must pay in the fourth year?

Reference no: EM132775135

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