How much would liverpool plc

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Liverpool plc is a growing company which wishes to take out a loan of £300,000 from a local bank. It would like to repay the loan in 10 increasing annual instalments, each one paid at the end of the year. The bank charges an interest rate of 7%. As it is a growing company, it would like its payments to increase at a rate of 4% every year. How much would Liverpool plc need to pay to the bank at the end of the first year?

Reference no: EM132775820

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