What is the annual payment on the consolidated loan

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Reference no: EM131523398

A few years after graduating from college, you decide to get an MBA. This endeavor sets you back $200,000 in loans. Luckily, you have the option to consolidate these loans at 5%. You opt for a 10 year payback period with annual payments due at the end of each year. What is the annual payment on the consolidated loan?

Reference no: EM131523398

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