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Category > Business & Finance Posted 02 Jun 2017 My Price 7.00

A loan of $60,000 is due

A loan of $60,000 is due 10 years from today. The borrower wants to make annual payments at the end of each year into a sinking fund that will earn compound interest at an annual rate of 10 percent. What will the annual payments have to be? Suppose that the monthly payments earn 10 percent interest, compounded monthly. What would the annual payments have to be?

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Status NEW Posted 02 Jun 2017 03:06 AM My Price 7.00

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