Find what will payment be

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Problem 1: If you borrow $1,900 and agree to repay the loan in five equal annual payments at an interest rate of 12%, what will your payment be? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Problem 2: What will your payment be if you make the first payment on the loan immediately instead of at the end of the first year?

Reference no: EM132941664

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