Borrow money for new production and warehouse facility

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Western Hydra Systems makes a panel milling machine with a 2.7-m-diameter milling head that emits low vibration and processes stress-relieved aluminum panels measuring up to 6000 mm long. The company wants to borrow money for a new production/warehouse facility. If the company offers to repay the loan with $50,000 in year 1 and amounts increasing by $20,000 each year through year 5, how much can the company borrow at an interest rate of 15% per year?

Reference no: EM131253287

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