Business, 26.03.2020 22:04 vegeta8375

A bank is negotiating a loan. The loan can either be paid off as a lump sum of $80,000 at the end of four years, or as equal annual payments at the end of each of the next four years. If the interest rate on the loan is 6%, what annual payments should be made so that both forms of payment are equivalent

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A bank is negotiating a loan. The loan can either be paid off as a lump sum of $80,000 at the end of...