What is the amount of each payment for albert

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Problem 1: Albert borrows $50,000 from the Mighty Bank today and the Bank requests her to repay her loan in four equal payments along with 10% interest. Each of the four payments must be paid at the end of the next three years. What is the amount of each payment? Please round to the nearest whole number.

a. None of the other alternatives are correct
b. $20,105
c.$15,106
d. $15,106 plus 10% interest
e. $20,105 plus 10% interest

Reference no: EM132763641

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