D4 The company is planning to borrow now $85000 at 10% per year. The company expects to repay the loan with eight equal annual payments at the end of each year, beginning 4 years after the loan is received. Find the amount of equal annual payments.
D4 The company is planning to borrow now $85000 at 10% per year. The company expects to repay the loan with eight equal annual payments at the end of each year, beginning 4 years after the loan is received. Find the amount of equal annual payments.
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 5Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the...
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D4
The company is planning to borrow now $85000 at 10% per year. The company expects to repay the loan with eight equal annual payments at the end of each year, beginning 4 years after the loan is received. Find the amount of equal annual payments.
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