Solution-What will the annual payment be

What will the annual payment be

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You have borrowed $25,000 at an interest rate of 16%. Equal payments will be made over a three-year period. (The first payment will be made at the end of the first year.) What will the annual payment be, and what will the interest payment be for the second year?

Reference no: EM131220024

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What will the annual payment be

Reference no: EM131220024

Reference no: EM131220024

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