Finding how much will each annual payment be

Reference no: EM131945807

Question: Big Brothers, Inc borrows $598.095 from the bank at 11 56 percent per year, compounded annually, to purchase new machinery This loan is to be repaid in equal annual installments at the end of each year over the next 9 years. How much will each annual payment be? Round the answer to two decimal places.

Reference no: EM131945807

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