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What would be the annual loan payment

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Reference no: EM133139884

Question - A farmer wants to take out a loan to build a greenhouse. She would take out a $46,000 that would be fully amortized in 7 years with an interest rate of 6%. What would be the annual loan payment?

a) $5,480

b) $2,760

c) $8,240

d) $5,840

Reference no: EM133139884

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