How much will each annual payment be

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Question: Big Brothers, Inc. borrows $169,634 from the bank at 19.49 percent per year, compounded annually, to purchase a new machinery. This loan is to be repaid in equally annual installments at the end of each year over the next 8 years. How much will each annual payment be?

Reference no: EM131944809

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How much will each annual payment be : Big Brothers, Inc. borrows $169,634 from the bank at 19.49 percent per year, compounded annually, to purchase a new machinery.

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