How much will each annual payment need to be

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Question: Assume that one will take out a $ 20,000 loan. The Annual Interest Rate is 6%, and the loan is to be paid off in 2 years. If the loan is to be repaid with annual payments, how much will each annual payment need to be? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131926484

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